Landmark US China audit deal spurs hunt for devils in the details

Corporate & Securities partner Jason T. Elder was quoted in Financial Times on the landmark US-China deal for US accounting regulators to inspect China-based audits, which could prevent the delisting of approx. US$1.5 trillion in US-listed securities by issuers based in China and Hong Kong.

While the new agreement is reported to be based on the same deal signed between US and China in 2013, Jason said "...this is different from 2013. The pressure and consequences of failure to deliver this time around are more acute."