Mitigating the Risk of Auditing U.S.-Listed Foreign Companies
… affiliated entities in these foreign jurisdictions, and in other cases they have or will begin to contract with another independent accounting firm or individual accountants located in China or Hong Kong to assist the U.S.-based accounting firm perform portions of the audit work under the lead auditor’s management and supervision. For those accounting firms that have or are considering undertaking these engagements, it is important to keep in mind the related risks in order to best consider how to mitigate them. The acting chief accountant of the Securities and Exchange Commission, Paul Munter, has issued a statement …
https://www.epicbrokers.com/insights/mitigating-auditing-risk/