PCAOB Outlines Audit Risks in Emerging Markets

Posted by Nancy Johnsonon October 4, 2011

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." 

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Tags: reverse merger, audit committee, Compliance in China

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.

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Tags: Internal Controls, reverse merger, PCAOB, audit deficiency