{"id":1671077,"date":"2022-10-04T05:06:01","date_gmt":"2022-10-04T09:06:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1671077"},"modified":"2022-10-04T05:06:49","modified_gmt":"2022-10-04T09:06:49","slug":"u-s-inspections-of-china-corporate-audits-at-very-early-stage-pwc-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-inspections-of-china-corporate-audits-at-very-early-stage-pwc-says\/","title":{"rendered":"U.S. inspections of China corporate audits at \u2018very early stage,\u2019 PwC says"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-inspections-of-china-corporate-audits-at-very-early-stage-pwc-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1671077&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Huw Jones<\/p>\n<p>LONDON (Reuters) \u2013     U.S. regulatory inspections of audits of Chinese companies listed in the United States have begun and it could be months before the conclusions are known, PwC Global Chairman Bob Moritz said.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>A China-U.S. agreement in August allows U.S. regulators, for the first time, to inspect China-based accounting firms that audit New York-listed companies to help resolve a dispute that threatened to boot more than 200 Chinese companies from U.S. exchanges.<\/p>\n<p>\u201cWe are in the middle of the inspection process. We are in the very early stages of that,\u201d Moritz told Reuters.<\/p>\n<p>PwC\u2019s Chinese customers include e-commerce giant Alibaba Group.<\/p>\n<p>\u201cWe\u2019ve got a number of months to go yet before the conclusions are reached. We are continuing to share the information that is allowable,\u201d Moritz said.<\/p>\n<p>He confirmed record global revenues for PwC of $50.3 billion for the year ended June 30, up 13.4% on the prior period.<\/p>\n<p>During its last fiscal year, the \u201cBig Four\u201d auditor pulled out of Russia following the country\u2019s Feb. 24 invasion of Ukraine, while its global headcount rose by more than 32,000 to 328,000, as a four-year, $12 billion programme to hire 100,000 people kicked off.<\/p>\n<p>Moritz expects \u201csignificant\u201d hiring in the current fiscal year to continue as business rebounds from the COVID-19 pandemic.<\/p>\n<p>PwC has yet to set out any mandatory minimum number of days for working in the office, though hybrid working was here to stay, he said.<\/p>\n<p>\u201cWhat we are expecting is that when they do come in, there is a purpose for coming in. It\u2019s making sure the other people are there as well,\u201d Moritz said.<\/p>\n<p>Rival EY is asking partners if they back splitting audit and consulting into two companies.<\/p>\n<p>\u201cWe have been very clear that our current construct and organisational model is appropriate for the stakeholders we serve \u2026 and we do not see any need for change,\u201d Moritz said.<\/p>\n<p> (Reporting by Huw Jones; Editing by Paul Simao)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/u-s-inspections-of-china\/attachment\/chinese-and-u-s-flags-flutter-near-the-bund-in-shanghai\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI930EP-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI930EP-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Huw Jones LONDON (Reuters) \u2013 U.S. regulatory inspections of audits of Chinese companies listed in the United States have begun and it could be months before the conclusions are<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1671077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1671077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1671077"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1671077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1671077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1671077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1671077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}