PCAOB Chair on China Audits: Our Work Is Just Beginning

The transcript discusses the inspection of audit firms in China by the PCB, enabled by the Holding Foreign Companies Accountable Act. It highlights the unprecedented access granted to inspectors, the cooperation achieved, and the ongoing plans for future inspections. The PCB is committed to ensuring compliance and protecting investors, despite challenges such as a high deficiency rate in audits. The organization aims to modernize standards, enhance inspections, and strengthen enforcement to hold firms accountable.

What recent legislation allowed the PCB to gain unprecedented access to audit firms in China?

How does the PCB plan to handle companies that deny access to their audit records?

What is the core mission of the PCB as mentioned in the text?

What concerns were raised regarding the deficiency rate of audits inspected by the board?

What are the four goals of the PCB for the current year?