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US authorities want to force companies from China to provide financial accounts

US authorities want to force companies from China to provide financial accounts

The administration of US President Donald Trump said that it expects to oblige Chinese companies whose shares are traded on US exchanges to provide accounting statements to financial regulators of the United States. This is written by The Wall Street Journal, citing sources in the Ministry of Finance and the securities and exchange Commission of the United States.

The US authorities are developing a plan according to which Chinese companies whose shares are traded on the New York stock exchange and the NASDAQ electronic exchange will have to provide US financial institutions with the opportunity to audit their accounting statements. To date, US regulators have not had access to carry out such checks in relation to companies from China.

According to this plan, which is under development, companies whose shares are already listed on American exchanges will have to adopt new audit rules by 2022. At the same time, companies that only plan to go to the IPO (initial public offering procedure) on the US stock exchanges will be able to do so only if American auditors are allowed to access their reports.

Earlier, the US Corporation Apple, which recently postponed the release of new iPhones, filed a lawsuit for 1.43 billion dollars (10 billion yuan). The initiator of the proceedings was the Chinese company Shanghai Zhizhen Intelligent Network Technology, which accused Apple of patent infringement.

Google News
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