One Way Or Another: The SEC Versus The Chinese Big Four Firms
SEC Administrative Judge Cameron Elliot issued a blistering decision last week in a long-running dispute over regulator access to auditor work papers in fraud investigations. The judge banned the Chinese Big Four firms from auditing US issuers for six months and lambasted them for voluntarily putting their firms “between a rock and a hard place.” The decision is not yet final but the enormous impact is already being felt worldwide.