Yesterday, the PCAOB issued Staff Audit Practice Alert No. 8: Audit Risks in Certain Emerging Markets, which the PCAOB says "focuses on the risks of misstatement due to fraud that auditors might encounter in audits of companies with operations in emerging markets, auditors' responsibilities for addressing those risks, and certain other auditor responsibilities under PCAOB auditing standards."
Read More
0 Comments Click here to read/write comments
PCAOB Issues Cautionary Research Note On China Reverse Mergers
Posted by
Bill Bockwoldton March 18, 2011
The PCAOB released their first public research note earlier this week, "cautioning U.S. registered accounting firms that their audits of companies with operations outside of the U.S., particularly in China, may not be in accordance with PCAOB standards if the company accessed the U.S. capital markets through a reverse merger transaction." The actual research note can be found here.
0 Comments Click here to read/write comments
Tags: Internal Controls, reverse merger, PCAOB, audit deficiency
