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Unpacking PCAOB's Sanctions Against China-Based Auditors

By Kara Brockmeyer, Mark Flinn and Michael Geraltowski ( January 18, 2024, 6:12 PM EST) -- On Nov. 30, 2023, the Public Company Accounting Oversight Board brought its first major enforcement actions against audit firms located in mainland China and its special administrative region, Hong Kong, by sanctioning PricewaterhouseCoopers China, PwC Hong Kong, China-based Shandong Haoxin and four individuals a total of $7.9 million for violating PCAOB quality control standards and, in one case, falsifying an audit.[1]...

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