Hong Kong regulators get access to mainland audits

A memorandum of understanding signed by Hong Kong and mainland authorities will allow the city’s regulator to gain access to audit papers on the mainland. This marks a step toward resolving a long-running tussle between the mainland and overseas regulators on inspecting the audit work conducted on foreign-listed Chinese companies, reports Caixin Global.

In the future, the Hong Kong Financial Reporting Council will be able to make requests to the mainland regulator for assistance in gaining access to audit working papers of Hong Kong audit firms located on the mainland, according to the accord.

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