What’s new: Nearly 200 U.S.-listed Chinese companies could be at risk of delisting if the accounting watchdog overseen by the U.S. Securities and Exchange Commission (SEC) cannot complete audit inspections and investigations into these firms by early November, an SEC official said.
This timetable would give the U.S. Public Company Accounting Oversight Board (PCAOB) enough time to determine whether a company complies with its audit requirements by a year-end deadline, Y.J. Fischer, director at the SEC’s office of international affairs, said in a speech Tuesday. Companies deemed noncompliant could face delisting from U.S. stock exchanges as soon as early 2023, when they file their latest annual report.
