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SEC bars China auditors for 6 months

A US Securities and Exchange Commission (SEC) judge on Wednesday ordered the Chinese units of the “Big Four” accounting firms to be barred for six months from leading audits for US-listed companies after failing to aid SEC accounting fraud probes, Bloomberg reported. The SEC ruled that the auditors had flouted the commission’s regulatory authority by failing to hand over documents about some of their US-listed Chinese clients which are under investigation. The SEC filed an action against the auditors in 2012 after struggling for years to obtain information for dozens of probes.

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