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Category: Accounting

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Three Areas of Consideration for China-based Companies: Disclosure Rules Raise the Stakes in U.S.-China Conflict

Rabbit and deer eating grass

According to recent reporting, the Chinese government is asking companies to abide by the age-old advice: “If you don’t have something nice to say, don’t say anything at all.” Reuters disclosed on July 24 that Beijing is threatening to pull...

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Auditors Swept Up in SPAC Regulation

Venus flytrap with captured insect

Like other trendy investment vehicles that skyrocketed in popularity and then faced a sharp decline, special purpose acquisition companies (SPACs) are seeing yet another indication that they are subject to the laws of financial gravity. New...

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Thorny Tax Developments Await U.S. Companies

Thistle flower with thorny stem

Back in October 2021, more than 130 member jurisdictions of the Organisation for Economic Co-Operation and Development negotiated the framework for new international tax rules affecting multinational companies. Rather than using the tax rat...

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First Inspections Find Massive Holes in Chinese Audits

View looking up at the sky from the inside of a cooling tower

Regulators have released the results of their first inspections of audits of U.S.-listed Chinese companies, and they’re not pretty. Analyses revealed “unacceptable deficiencies” in audits performed by KPMG’s Chinese arm and PricewaterhouseC...

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Fallout From Accounting Class Actions Could Extend Beyond Issuers

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Although we have ample evidence to the contrary, the idea of an accounting scandal seems strange because it is hard to imagine accountants engaging in scandalous behavior. We picture accountants as meticulous bean counters – hardly the type...

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