China and the US worked out a deal on the age-old argument where Chinese firms are not allowed to hand over paperwork to US institutions for audits. But the agreement is not valid for Hong Kong, and so close to a hundred current and former KPMG partners got sued over the case of the bankrupt China Medical, reports Beida accounting professor Paul Gillis last week at his weblog.
Tag Archives: Paul Gillis
Shinewing, leading Chinese CPA, got a record fine from China’s regulators for a failed audit of a listed company, writes professor Paul Gillis of Practice at Peking University’s Guanghua School of Management at his weblog Chinaaccountingblog. He applauds the tough action.
The efforts by the Public Company Accounting Oversight Board (PCAOB) to get access to Chinese data from US-listed Chinese firms went into a new phase as it banned a Hong Kong accounting firm, reports Beida accounting professor Paul Gillis on his weblog. It could be a new item on Trump’s China agenda, he suggests.
China’s e-commerce giant booked another record during its Single’s Day in 2017. But what figures is the company actually reporting? Beida accounting professor Paul Gillis dives into the figures at his Chinaaccountingblog.
The result of Donald Trump’s visit to China has been underwhelming, especially when some of the published deals were put under scrutiny. Beida accounting professor Paul Gillis looks at the Washington Post and the opening of financial markets where foreign firms could get a majority share.
Beida accounting professor Paul Gillis points at his weblog at the rumor Goldman Sachs has decided to suspend work on a HNA subsidiary IPO in the US, because they are unable to get enough information on this Chinese conglomerate. Gillis wonders what auditor PwC knows about their client.
Bike sharing has met mixed reactions in China, including Beida professor Paul Gillis, who wondered earlier this year whether the investments made business sense, while they are already expanding internationally. The business case still has to be proven, Paul Gillis now admits on North Carolina Public Radio, bike sharing has changed his urban life for the better.
China has diminished limits on foreign businesses with its new negative list for 11 free trade zones. That includes accounting, writes Beida accounting professor Paul Gillis at his weblog, although most foreign accounting firms had already workarounds for most legal limitations of the past, he adds.
China is bringing more of its private companies to heel, both domestically and their international investments. Peking University accounting professor Paul Gillis sees it as an effort by president Xi Jinping to consolidate its power, he tells the VOA.
China’s auditing regulators have issued temporary bans for the Chinese affiliate of BDO and Ruihua, the Chinese affiliate of both Crowe Horwath and RSM, over the past few months. Harsh measures to get auditing firms in line, even for international standards. Beida auditing professor Paul Gillis has his doubts, he writes at his weblog.