Logo 15 May 2023

Audit fail

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The US audit watchdog (PCAOB) has published its review of the audits of a handful of US-listed Chinese companies.
The verdict? Rubbish.
On Wednesday, the PCAOB said that it found an “unacceptable rate of…deficiencies” in:

All four audits it inspected by KPMG Huazhen in mainland China
Three of the f...