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Judy Greenwald

Chinese affiliates of 5 accounting firms to be charged with fraud-related violations

December 3, 2012

Robert Khuzami SEC

In an official statement, Robert Khuzami, director of the division of enforcement at the U.S. Securities Exchange Commission (SEC), said: “Only with access to work papers of foreign public accounting firms can the SEC test the quality of the underlying audits and protect investors from the dangers of accounting fraud. Firms that conduct audits knowing they cannot comply with laws requiring access to these work papers face serious sanctions.”

 



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