China’s Third Plenary Session: Implications for Strengthening Deterrence of Accounting Violations

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In: SINOTALKS® In Brief | 丝络谈™简讯

Image: Axelle B, Euros Handshake (Publicdomainpictures.net)

“强化上市公司监管”和“健全投资者保护机制”是2024年7月18日中国共产党第二十届中央委员会第三次全体会议通过且备受期待的决定中提出的众多改革任务之两项任务。虽然中国新修正的《会计法》可能有助于实现这些目标，但一起由最高人民法院判决的案例表明，有需要采取更多措施来有效解决这些问题。Read more

China’s Third Plenary Session: Implications for Strengthening Deterrence of Accounting Violations

On:
In: SINOTALKS® In Brief | 丝络谈™简讯

Image: Axelle B, Euros Handshake (Publicdomainpictures.net)

“Strengthening the regulation of listed companies” and “improving the mechanism for protecting investors” are among the many reform tasks identified in the widely anticipated decision adopted at the third plenary session of the 20th Central Committee of the Communist Party of China on July 18, 2024. While China’s newly amended Accounting Law may help accomplish these goals, a case decided by the Supreme People’s Court suggests that additional measures are required.Read more

China’s Courts Give NEW Guidelines on Capital Markets Some Teeth

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In: SINOTALKS® In Brief | 丝络谈™简讯

Image: Gerd Altmann, Business (Publicdomainpictures.net)

美国众议院监督和问责委员会正在调查美国上市公司会计监督委员会是否“被赋予权力以确保其对[中国]公司的审计师进行有意义的监督”。委员会应欢迎中国国务院最近发布的一份文件，该文件旨在通过加强信息披露等措施来改善中国资本市场。有趣的是，中国最高人民法院已经采取了措施，而如果全国法院都一致遵循这些措施，就可以壮大该文件的力量。Read more

China’s Courts Give NEW Guidelines on Capital Markets Some Teeth

On:
In: SINOTALKS® In Brief | 丝络谈™简讯

Image: Gerd Altmann, Business (Publicdomainpictures.net)

The U.S. House Committee on Oversight and Accountability is investigating whether the Public Company Accounting Oversight Board (“PCAOB”) is “empowered to ensure meaningful oversight of auditors of [China]-based firms”. The Committee should welcome a document recently released by China’s State Council that aims at improving the country’s capital markets by strengthening information disclosure, among other measures. Interestingly, the Supreme People’s Court of China has taken steps that, if followed consistently by all courts in the country, can empower this document.Read more