WASHINGTON Dec 3 U.S. regulators on Monday
charged the Chinese affiliates of five top accounting firms with
violations of U.S. securities laws, alleging that they refused
to produce audit documents in connection with accounting fraud
investigations into Chinese companies.
The Securities and Exchange Commission began proceedings
against the Chinese units of Deloitte & Touche, Ernst & Young,
KPMG, PricewaterhouseCoopers and BDO. The companies violated
laws that require foreign public accounting firms to provide the
SEC with audit work papers involving any company trading on U.S.
markets, the SEC said.
An administrative law judge will schedule a hearing to
determine potential sanctions against the firms, the SEC said.