US mounts pressure on Chinese firms to share audits

Washington DC [US], May 16 (ANI): A United States accounting oversight board proposed a draft rule to advance the implementation of legislation to remove foreign firms, from the US stock exchange that did not comply with American accounting standards. According to the South China Morning Post (SCMP), this has been done to expedite a Trump-era law that would force publicly traded Chinese companies to delist from American bourses in three years if they do not share their audits for review. The rule change would provide a framework to determine whether local authorities inhibited its inspections of foreign accounting firms that…