U.S. watchdog says it found unacceptable problems with Chinese company audits

Apparently hundreds of companies are about to be de-listed. Original Source: https://www.reuters.com/markets/us-watchdog-says-it-found-unacceptable-problems-with-chinese-company-audits-2023-05-10/ WASHINGTON, May 10 (Reuters) – A U.S. accounting watchdog found unacceptable deficiencies in audits of U.S.-listed Chinese companies performed by KPMG in China and PricewaterhouseCoopers in Hong Kong, …

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IRS wants to increase audits by 10X…

The IRS hopes to increase tax audits on the wealthiest taxpayers tenfold under the Biden administration’s plan for the agency, according to a senior administration official and the IRS’s new strategic operating plan. IRS and Treasury Department officials said Thursday …

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IRS Staff and Audits Will Multiply

by Martin Armstrong The Inflation Reduction Act will waste $430 billion and will do absolutely nothing to curb inflation. Around $300 billion will be spent on climate change initiatives. Clearly, that is not going to curb inflation, and paying farmers …

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Firm that Audits the Fed’s Financial Statements Hit with $625 Million in Damages for Negligence in Bank-Fraud Case Brought by the FDIC

Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter When it gets too complicated for senior auditors, send in a “college-aged intern.” For PricewaterhouseCoopers, having for years rubber-stamped as outside auditor the financial statements of Colonial Bank in Alabama is getting expensive. Colonial, the 25th …

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