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ARTICLE · 07 JUNE 2013

The S.E.C. v. D & T Shanghai

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The global accounting firms have been swept up in the accounting scandals that have plagued many Chinese firms listed on American stock exchanges.

CanadaLitigation, Mediation & Arbitration
Jason Squire
Jason Squire
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The global accounting firms have been swept up in the accounting scandals that have plagued many Chinese firms listed on American stock exchanges.

Most notably, in May of last year, the Securities and Exchange Commission filed an administrative action against the Shanghai office of Deloitte and Touche for refusing to provide audit work papers related to one of its clients. The unidentified Chinese client has been under investigation by the S.E.C. for accounting fraud since 2010.

Deloitte Touche Tohmatsu CPA Ltd. had provided the documents to the China Securities Regulatory Commission at the request of the S.E.C., but argued that it could not provide them to United States regulators under Chinese law.

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