China Securities Regulatory Commission responds to the progress of Sino-US audit supervision cooperation: all work is progressing smoothly

　　China News Service, December 16. According to news from the website of the China Securities Regulatory Commission on the 16th, the spokesperson of the China Securities Regulatory Commission answered reporters' questions about the progress of Sino-US audit supervision cooperation.

　　Q: On the morning of December 15 local time, the US Public Company Accounting Oversight Board (PCAOB) issued a report

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The market generally believes that this marks the positive results of Sino-US audit supervision cooperation and sends a positive signal to Chinese companies listing in the US.

What is the comment of the China Securities Regulatory Commission?

　　A: We have noticed the report and public statement released by the US.

We have always advocated the use of a regulatory cooperation mechanism to solve cross-border listing audit supervision issues. Practice has proved that as long as the two parties adhere to the spirit of mutual respect, professionalism and practical cooperation, they will be able to find a feasible cooperation path that meets their respective legal and regulatory requirements.

　　The Sino-US audit supervision cooperation agreement signed by the China Securities Regulatory Commission, the Ministry of Finance and the US PCAOB on August 26, 2022, included the inspection and investigation activities of relevant accounting firms by both parties under the framework of bilateral regulatory cooperation.

Since the signing of the cooperation agreement, the regulators of the two sides have strictly implemented their respective laws and regulations and the relevant provisions of the agreement, and cooperated to carry out a series of effective inspection and investigation activities, and all work has progressed smoothly.

During the cooperation process, the two sides fully communicated and coordinated on the inspection and investigation activities plan. The US side obtained audit papers and other documents through the Chinese regulatory authority, and conducted interviews and inquiries with relevant personnel of the accounting firm with the participation and assistance of the Chinese side.

The Chinese side abides by laws and regulations and refers to international practices, and in accordance with the provisions of the cooperation agreement, specially handles the personal information and other specific data contained in the draft documents involved in the inspection and investigation. Information security protection requirements.

　　We welcome the re-identification made by the U.S. regulatory agency based on regulatory professional considerations, and look forward to working with the U.S. regulatory agency to continue to promote future annual audit regulatory cooperation on the basis of summarizing previous cooperation experience, mutual respect, and mutual trust, to form a normalized and sustainable Cooperation mechanism to jointly create a more stable and predictable international regulatory environment and safeguard the legitimate rights and interests of global investors in accordance with the law.

(China New Finance and Economics)