SEC charges China units of audit firms


The nasty battle between U.S. regulators and the China units of big accounting firms stepped up, as the SEC has charged the China affiliates of Deloitte, KPMG, PricewaterhouseCoopers, BDO and Ernst & Young. The PCAOB and SEC have been seeking information related to the audits of imploded reverse mergers. But the China affiliates have refused, saying they are governed by Chinese law. That has prompted the SEC to play hardball. Article