Impact Of Big 4 Initial Decision Unclear

Law360, New York (January 28, 2014, 12:45 PM EST) -- On Jan. 22, 2014, U.S. Securities and Exchange Commission Administrative Law Judge Cameron Elliot issued an initial decision censuring the Chinese accounting firms affiliated with Ernst & Young LLP, KPMG LLP, PricewaterhouseCoopers LLP and Deloitte LLP (the Big Four accounting firms), as well as a fifth firm, BDO China Dahua CPA Co. Ltd.

The initial decision found that the accounting firms each willfully violated Section 106 of the Sarbanes-Oxley Act of 2002 and the Securities Exchange Act of 1934 by failing to comply with investigative requests...
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