China Auditors Have Seen Better Days

Today is not the best day for the China affiliates of the “big 4” and other auditors. Muddy Waters Research, via a tweet, facetiously said “Today is China Auditorageddon”. One wonders if there will be negative consequences on any of the US-listed China stocks, despite the Short China Reverse Merger trade being over. Posted below are today’s key developments, for posterity’s sake (and just in case the filings mysteriously disappear).

SEC Charges China Affiliates of Big Four Accounting Firms with Violating U.S. Securities Laws in Refusing to Produce Documents

ORDER INSTITUTING ADMINISTRATIVE PROCEEDINGS

OSC ON SINO-FOREST

Sources:

(1) http://www.sec.gov/news/press/2012/2012-249.htm

(2) http://www.osc.gov.on.ca/en/Proceedings_soa_20121203_ernst-young.htm

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2 Responses to China Auditors Have Seen Better Days

  1. Gus says:

    Wow that was strange. I just wrote an incredibly
    long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not
    writing all that over again. Regardless, just wanted to say great blog!

  2. You actually make it seem so easy with your presentation but I find
    this matter to be actually something which I think I would never
    understand. It seems too complex and very broad for me.
    I’m looking forward for your next post, I will try to get the hang of it!

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