China Wants Local Control of Foreign Auditing Firms

Canadian audit firms have made improvements to the quality of their work after a scathing assessment last year by the industry watchdog, the Canadian Public Accountability Board. CPAB inspected 236 files from 2012, and found that the majority was “well done,” according to the regulator’s annual report released Thursday.

BEIJING – China announced new rules directed at the four largest foreign auditing firms that will require local control over time in one of the fastest growing markets for professional accounting services.

BEIJING (Reuters) - China released new rules for the world's top four auditing firms on Thursday that include a requirement for their local operations to be led by Chinese citizens within three years.

China released new rules for the world's top four auditing firms on Thursday that include a requirement for their local operations to be led by Chinese citizens within three years. The rules released by ...

The Chinese government has admitted for the first time that decades of reckless pollution have spawned a string of toxic "cancer villages". The admission by China's Environment ministry came in a five-year plan on tackling pollution.

The world's biggest accounting firms must appoint Chinese citizens to head their mainland operations within five years, an edict that could crimp the auditors' expansion in China.BEIJING — The Chinese government has ordered the world's Big Four accounting firms to appoint Chinese citizens to head their mainland operations within five years, an edict that could crimp the auditors' expansion in one of the world's most important markets.

China has issued new guidelines aiming at transforming the existing Sino-foreign auditing firms into more localized entities, requiring firms' heads to be Chinese citizens and the majority of partners to possess a local license.