Tag: China
SubscribeThorny Tax Developments Await U.S. Companies
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...
Read MoreFirst Inspections Find Massive Holes in Chinese Audits
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...
Read MoreThree Aspects of the U.S.-China Relationship for Public Companies to Watch
Last week’s bizarre news of a Chinese surveillance balloon discovered floating above U.S. airspace offered ample material for comedians and internet memelords. The cold open of NBC’s “Saturday Night Live” even featured an “interview” with t...
Read MoreU.S. Sets New Guidelines for Foreign Investment
If we asked what the acronym CFIUS stands for, how long would it take you to come up with “Committee on Foreign Investment in the U.S.?” As the name implies, CFIUS reviews cross-border investment in the United States for red flags related t...
Read MoreAudit Failures Lead to SEC Action Against Deloitte-China
Some auditors in the Chinese affiliate of Big Four accounting firm Deloitte have apparently been taking a unique approach to their work. Rather than evaluating their clients’ financial reporting, they let the clients audit themselves, accor...
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