Big 4's Chinese Units Suspended From Auditing Cos. In US

Law360, Los Angeles (January 22, 2014, 10:54 PM EST) -- A U.S. Securities and Exchange Commission administrative law judge on Wednesday ruled that the Chinese units of the Big Four accounting firms are barred from auditing companies that do business in the U.S. for refusing to reveal their clients’ documents to SEC investigators.

The accounting firms contended that while they were ready and willing to comply with the SEC’s requests, Chinese law prevented them from turning over the requested documents, according to the initial decision.

But Judge Cameron Elliot found that she did not have the...
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