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November 14, 2012
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  • PCAOB makes progress on Chinese corporate-audit issue
    The U.S. Public Company Accounting Oversight Board has made progress with China regarding joint inspection of corporate auditing, PCAOB Chairman James Doty said. The PCAOB has observed Chinese regulators' inspection of auditors, and Doty expects to begin talks on access to audit documents by year-end. Reuters (11/8) LinkedInFacebookTwitterEmail this Story
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  • Australian court finds S&P liable for derivatives losses
    The Federal Court of Australia ruled that Standard & Poor's is jointly liable with ABN AMRO Bank for losses experienced by local councils, which invested in credit derivatives rated by S&P. The credit rating agency plans to appeal. The case is one of 40 worldwide challenging rating agencies' contention that they should not be liable for ratings because they are opinions. The Economist (11/10) LinkedInFacebookTwitterEmail this Story
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