SEC's Gensler Calls US-China Audit Deal Unprecedented

SEC's Gensler Calls US-China Audit Deal Unprecedented

Assessment

Interactive Video

Business, Social Studies

University

Hard

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FREE Resource

The video discusses the importance of financial data oversight in capital markets, highlighting the need for auditor checks. It covers the US-China agreement allowing auditor inspections, driven by bipartisan efforts in the US Congress. Constructive dialogues with China aim to ensure compliance, with future inspections planned to assess success by December.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for financial data to be audited?

To reduce taxes

To ensure accuracy and reliability for investors

To comply with international trade laws

To increase company profits

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the consequence set by the US Congress if China did not comply with auditor inspections?

Increased tariffs on Chinese goods

Chinese companies would have to leave US capital markets

A ban on Chinese imports

A diplomatic meeting with Chinese officials

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which US senators were mentioned as leading the bipartisan effort for compliance?

Senators Smith and Johnson

Senators Green and Blue

Senators Van Holland and Kennedy

Senators Brown and White

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main goal of the agreement with China regarding auditor inspections?

To increase trade between the US and China

To allow US inspectors to check Chinese auditors' work papers

To reduce the number of Chinese companies in the US

To improve diplomatic relations

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

By when is it expected to know if the compliance with the agreement is successful?

By the end of November

By the end of October

By the end of September

By the end of December