Eric Wu Provides Insights on Auditing Agreement by U.S. and Chinese Regulators
On Friday August 26, U.S. and Chinese regulators reached an agreement on audit inspections of Chinese companies listed on U.S. Exchanges. Articles reporting on the agreement by Law.com International and Scrip included insights from Ropes & Gray life sciences partner Eric Wu, who is based in the firm’s Shanghai office.
According to Eric: “The recent agreement between the PCAOB and the Chinese regulators is a major milestone but is only one of many steps that will need to be taken before all the relevant parties, including the Chinese companies listed in the U.S., can truly breathe a sigh of relief. The positive here is that there seems to be a path forward but the key will be the proper operationalization and implementation of the agreement going forward. In any event, it’s a big accomplishment for the U.S. and China that impacts hundreds of listed companies.”