US audit inspectors unveil $7.9mn fines on China-based firms
Thursday, 30 November 2023 US inspectors fine China-based firms, including PwC affiliates in Hong Kong and China, for audit deficiencies. The $7.9 million penalties are the highest imposed globally. This marks the first enforcement action against a mainland Chinese-based firm. Chinese companies like Alibaba risk delisting from US stock exchanges if they don't comply with American standards. Chinese authorities have not interfered with investigations. The PCAOB will hold China-based firms accountable and aims to inspect all auditors of US-listed companies in Hong Kong and mainland China by 2024.
Walmart Shifts US Import Focus , From China to India .
NBC reports that Walmart has begun importing
more goods to the United States from India
as it reduces its reliance on China. .
According to data seen by Reuters, the world's
largest retailer is looking to cut costs, while also
diversifying...
Thursday, 30 November 2023
