SEC charges China affiliates of Big Four accounting firms with violating US securities laws

…in connection with the spate of accounting misdemeanours involving Chinese companies listed on US capital markets, of which the Sino-Forest scandal has been the most high-profile. SEC press release here.

On the same day, Canada’s stock market regulator has accused Ernst & Young LLP of failing to conduct a proper audit of Sino-Forest.

See also: European Commission proposals for reform of the audit market: Big Four firms may have to separate their audit businesses

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