The U.S. securities regulator and audit body will visit Beijing next week.

U.S. securities, audit regulators to visit Beijing next week

美證交會下周赴京商談中概股監管事宜

U.S. securities and accounting regulators will meet with Chinese authorities next week to discuss the establishment of an oversight process for Chinese auditors that handle U.S. listings of Chinese companies, Sina Tech reported Wednesday.

The U.S. Securities and Exchange Commission and Public Company Accounting Oversight Board (PCAOB) will meet with delegates of China's securities regulator in Beijing on July 11 and 12, Bloomberg reported, citing unnamed sources.

The two sides are expected to discuss the possibility of allowing U.S. regulators to investigate Chinese companies listed in the U.S.

"Both sides have agreed to accelerate efforts, including undertaking a process for negotiations and engaging in technical assistance activities, to reach a bilateral agreement governing cross-border audit oversight," said PCAOB spokesperson Colleen Brennan.

The talks come in the wake of a spate of accounting scandals involving U.S.-listed Chinese firms that has undermined investor confidence in Chinese companies' financials.

The U.S. government requires all companies have their books audited by accounting firms registered with the PCAOB before a U.S. listing. But some Chinese companies choose to use China-based auditors, and China currently does not allow the PCAOB to oversee their work.

美國證交會(SEC)和上市公司會計監督委員會(PCAOB)與中國證劵監督管理委員會擬于下周在北京召開會議，首次就授予美國監管機構調查中國上市公司的權利進行討論。

據彭博社報道，兩位不愿透露姓名的消息人士稱，7月11日至12日美國證券交易委員會和上市公司會計監督委員會(PCAOB)的代表將與中國證券監督管理委員會的代表在北京會面。

據悉，中美雙方屆時將就授予美國監管機構調查中國上市公司的權利進行討論。　　

上市公司會計監督委員會發言人Colleen Brennan表示，“中美雙方均同意加快動作，包括建立磋商機制和提供技術支持服務，從而建立跨境審計監管程序。”

美國監管機構來華之行是在今年3月以來在美上市公司的審計丑聞引發了“信任危機”的背景之下，而此事已經引起中美兩國政府層面的關注。

在美國申請上市的公司需要委托審計公司對其賬務進行審計。一些中國公司委托中國審計公司進行此事，而目前中國不允許美國上市公司會計監督委員會對其成果進行審查。