Chinese Burritos Will Continue to Trade in the U.S. as Document Sharing Agreement Has Been Made

“China agreed to give a U.S. regulator access to documents from Chinese accounting firms, moving toward a resolution of a dispute that could have pushed the country’s companies to stop trading on U.S. markets.

The Public Company Accounting Oversight Board, the China Securities Regulatory Commission and China’s Ministry of Finance signed the agreement May 7, the ministry said in a statement on its website today. The deal is a step toward resolving other disputes including one with the U.S. Securities and Exchange Commission, PCAOB Chairman James Doty was quoted as saying by the Wall Street Journal, which reported the agreement earlier today.

The SEC last year accused affiliates of the world’s top four auditing firms of withholding documents from investigators probing potential fraud by China-based companies….”

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