PCAOB Chair Williams Details US-China Audit Agreement

The transcript discusses a detailed agreement with China for audit access, highlighting its provisions, comparison with other countries, implementation steps, dispute resolution, and negotiation process. The agreement ensures complete access to audit work papers in China, with no special provisions for sensitive data. It outlines the steps for implementation and the consequences of non-compliance, emphasizing the importance of following the law. The negotiation process was lengthy, with no compromises from the PCB, ensuring compliance with the Holding Foreign Companies Accountable Act.

What is the significance of the Holding Foreign Companies Accountable Act in relation to this agreement?

What are the expectations regarding the treatment of Chinese publicly traded companies under this agreement?

What challenges have been faced in negotiating the audit agreement with China?