Mind the GAAP: Chinese Companies Under Fire for Accounting Fraud
The SEC recently initiated stop order proceedings against China Intelligent Lighting and Electronics Inc. and China Century Dragon Media Inc. on suspicion of accounting fraud. As reported by The New...
View ArticleMind the GAAP: Addressing Fraud Trends at Chinese Companies
Last month we noted a trend concerning fraud and accounting irregularities at NYSE- and Nasdaq-listed Chinese companies. The trend is not being ignored: on July 11 and 12, representatives from the...
View ArticleNew Roadblock to Going Public in Reverse
Soon it may just be a little harder to go public through a reverse merger transaction. The SEC published proposed rule changes from both the New York Stock Exchange (PDF) and NYSE Amex (PDF) on Aug....
View ArticleMind the GAAP: Regulator Talks to Continue
In the continuing wake of fraud and accounting irregularities at Chinese companies listed on U.S. exchanges, negotiations that began last month between U.S. regulators and their Chinese counterparts...
View ArticleMind the GAAP: Chinese Internet Companies Feeling the Pain
Investor sentiment stemming from allegations of accounting fraud at a host of Chinese companies listed on U.S. exchanges is spreading. As reported by the Wall Street Journal, the shift in sentiment is...
View ArticleMIND THE GAAP: The Auditor's Dilemma
Audit firms are smack in the middle of the tension between U.S. and Chinese regulators with respect to allegations of accounting fraud at Chinese companies traded on U.S. exchanges. At present, a...
View ArticleExchange Roadblocks to Going Public in Reverse Are Now in Place
In August 2011, we commented on proposals by the major national securities exchanges to impose additional listing requirements on companies completing a reverse merger with a shell company. The SEC...
View ArticleSEC Guidance on Common Financial Reporting Issues Facing Smaller Reporting...
The SEC recently posted to its website a slide deck (PDF) from a staff presentation at the Forums on Auditing in the Small Business Environment. The slides describe, among other things, some of the...
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