The U.S. securities regulator and audit body will visit Beijing next week.

U.S. securities, audit regulators to visit Beijing next week

美证交会下周赴京商谈中概股监管事宜

U.S. securities and accounting regulators will meet with Chinese authorities next week to discuss the establishment of an oversight process for Chinese auditors that handle U.S. listings of Chinese companies, Sina Tech reported Wednesday.

The U.S. Securities and Exchange Commission and Public Company Accounting Oversight Board (PCAOB) will meet with delegates of China's securities regulator in Beijing on July 11 and 12, Bloomberg reported, citing unnamed sources.

The two sides are expected to discuss the possibility of allowing U.S. regulators to investigate Chinese companies listed in the U.S.

"Both sides have agreed to accelerate efforts, including undertaking a process for negotiations and engaging in technical assistance activities, to reach a bilateral agreement governing cross-border audit oversight," said PCAOB spokesperson Colleen Brennan.

The talks come in the wake of a spate of accounting scandals involving U.S.-listed Chinese firms that has undermined investor confidence in Chinese companies' financials.

The U.S. government requires all companies have their books audited by accounting firms registered with the PCAOB before a U.S. listing. But some Chinese companies choose to use China-based auditors, and China currently does not allow the PCAOB to oversee their work.

美国证交会(SEC)和上市公司会计监督委员会(PCAOB)与中国证劵监督管理委员会拟于下周在北京召开会议，首次就授予美国监管机构调查中国上市公司的权利进行讨论。

据彭博社报道，两位不愿透露姓名的消息人士称，7月11日至12日美国证券交易委员会和上市公司会计监督委员会(PCAOB)的代表将与中国证券监督管理委员会的代表在北京会面。

据悉，中美双方届时将就授予美国监管机构调查中国上市公司的权利进行讨论。　　

上市公司会计监督委员会发言人Colleen Brennan表示，“中美双方均同意加快动作，包括建立磋商机制和提供技术支持服务，从而建立跨境审计监管程序。”

美国监管机构来华之行是在今年3月以来在美上市公司的审计丑闻引发了“信任危机”的背景之下，而此事已经引起中美两国政府层面的关注。

在美国申请上市的公司需要委托审计公司对其账务进行审计。一些中国公司委托中国审计公司进行此事，而目前中国不允许美国上市公司会计监督委员会对其成果进行审查。