By Nigel Somerville | Sunday 20 August 2017
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
It seems that some regulators have more teeth than others. The PCAOB – a US regulator – has revoked the registration of Hong Kong audit firm Crowe Horwath HK and censured it for refusing to cooperate with an investigation of the firm’s audits of a China-based issuer. Crowe Horwath is part of the same network of audit firms that contains our very own Crowe Clark Whitehill, which audited a large number of AIM-China Filthy Forty companies before they disappeared into the ether (see HERE).
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