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HONG KONG: KPMG chairman has called for a global set of standards for the auditing industry and said the Olympus Corp scandal in Japan reveals evidence of 'significant fraud'.
SINGAPORE/NEW YORK (Reuters) - China's financial regulators have asked the world's biggest audit firms to urgently review their work on U.S.-listed Chinese companies and give details on information they may have provided to overseas regulators, two sources told Reuters.
PETALING JAYA: Amendments to the Securities Commission Act 1993 (SCA) and the Capital Markets and Services Act 2007 (CMSA) aimed at promoting the development of the capital market came into force on Oct 3, in line with the global standards pursuant to the strategies outlined in the Capital Market Masterplan 2.
PETALING JAYA: The Audit Oversight Board (AOB) has flexed its regulatory muscles in a surprising way when it shortened the tenure of registration for three partners of two accounting firms from the usual one year to six months. Although by no means the harshest action that the board can take, this reduction of the validity period of registration serves notice that the work of auditors of large companies is indeed under greater scrutiny than before.