Tuesday, October 21, 2014
Inquirer Daily News

U.S. accountants' China affiliates hide fraud: SEC

Complaints against BDO, Deloitte, Ernst, KPMG, Pricewaterhouse

U.S. accountants' China affiliates hide fraud: SEC

The US Securities and Exchange Commission today accused the China affilaites of the multinational BDO, Deloitte, Ernst & Young, KPMG, and Pricewaterhouse Coopers accounting groups and accused them of "willfully failing"  produce documents on China-based, U.S.-listed companies suspected of defrauding U.S. investors, in violation of both U.S. securities law, and the Sarbanes-Oxley accounting law.

Read the SEC complaint here, news release here.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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