On the 16th, the spokesman of the China Securities Regulatory Commission answered reporters' questions about the progress of China US audit supervision cooperation. Q: On the morning of December 15 local time, the Public Company Accounting Oversight Board (PCAOB) issued a report confirming that in 2022, it can complete the inspection and investigation of Chinese mainland and Hong Kong accounting firms, and revoke the identification of related firms in 2021. The market generally believes that this marks the positive results of Sino US audit and supervision cooperation and releases a positive signal to Chinese enterprises' listing in the United States. What is the comment of the CSRC? A: We have taken note of the report and public statement issued by the US side. We have always advocated the resolution of cross-border listing audit supervision through the regulatory cooperation mechanism. Practice has proved that as long as both sides uphold the spirit of mutual respect and professional and pragmatic cooperation, they will be able to find a feasible cooperation path that meets their respective legal and regulatory requirements. The Sino US cooperation agreement on audit supervision signed by the CSRC, the Ministry of Finance and the PCAOB of the United States on August 26, 2022 brings the inspection and investigation of relevant accounting firms into the framework of bilateral regulatory cooperation. Since the signing of the cooperation agreement, the regulatory authorities of both parties have strictly implemented their respective laws, regulations and agreements, and carried out a series of effective inspection and investigation activities in cooperation. All work has progressed smoothly. In the process of cooperation, both parties made full communication and coordination on the inspection and investigation activity plan. The US side obtained the audit manuscript and other documents through the Chinese regulatory department, and conducted interviews and inquiries with the relevant personnel of the accounting firm with the participation and assistance of the Chinese side. The Chinese side has complied with laws and regulations and referred to international practices. In accordance with the cooperation agreement, the Chinese side has specially processed the personal information and other specific data contained in the draft documents involved in the inspection and investigation. While both parties have performed their regulatory duties according to law, they have met the requirements of relevant laws and regulations for information security protection. We welcome the new recognition made by the US regulatory authorities based on the regulatory professional considerations. We look forward to working with the US regulatory authorities to continue to promote the future annual audit and regulatory cooperation on the basis of summing up the previous cooperation experience, mutual respect, enhance mutual trust, form a normalized and sustainable cooperation mechanism, jointly create a more stable and predictable international regulatory environment, and safeguard the legitimate rights and interests of global investors in accordance with the law. (Liu Xinshe)
Edit：wangwenting Responsible editor：xiaomai
Source：xinhuanet
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