Exact(1)
The PCAOB is expected to declare by year's end that if a foreign auditor has not been inspected properly by American authorities, it will be deregistered.If such a rule is upheld by courts and confirmed as policy, it would mean the Big Four's affiliates in China could lose many multinationals as clients, as American laws require firms to use registered auditors.
Similar(59)
But foreign auditors are not yet convinced the proposed measures are enforceable.
American regulators must ensure that the foreign auditors of firms listed in America are doing their job properly.
Foreign auditors are barred from signing off on balance sheets of Indian companies by an act passed in 1949, but Pricewaterhouse's presence predates that act.
A chief source of frustration for foreign auditors has been the delays in carrying out reforms and an apparent reluctance by the government to reduce the country's public payroll.
Media-Most, which has hired foreign auditors, wants to establish that it is worth a great deal, so that Gazprom would be entitled to only a small percentage of the company.
Moreover, because so many non-American firms want to list their shares in the United States, and because their auditors are likely to be one of the global Big Five, foreign auditors find themselves under the SEC's aegis too.Its rules are wide-ranging, embracing not only shares but also pension plans, mutual funds and credit-card balances.
ATHENS — After marathon talks with foreign auditors, the Greek government said Sunday that it had reached a deal on how to slash its unwieldy public sector by putting 30,000 workers on a scheme that would lead to early retirement for some and dismissal for others, in a bid to meet conditions set by foreign lenders for the release of crucial emergency loans.
Their job, more or less, is to certify that it all adds up, not that it is really true.Still, the way in which corrupt owners, managers and others in Russia have used foreign auditors (and lawyers, consultants and bankers) to confer spurious respectability is little short of scandalous.
Page A8 GREECE'S CONTROVERSIAL PLAN After talks with foreign auditors, the Greek government said that it had reached a deal on how to slash its unwieldy public sector, by putting 30,000 workers on a controversial scheme that would lead to early retirement for some and dismissal for others.
In comments made late on Sunday after a cabinet meeting, a government spokesman, Ilias Mossialos, said Sunday's deal was the result of "long and difficult negotiations" with foreign auditors and that it constituted the "gentlest possible scenario in terms of social repercussions".
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