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Chinese regulators ask US-listed firms to prepare audit documents

The China Securities Regulatory Commission and other regulatory agencies have asked some US-listed firms, including Alibaba, Baidu, and, to prepare for more audit disclosures as Beijing steps up efforts to ensure domestic companies remain listed in New York. Chinese regulators have asked some of the country's US-listed firms to provide more disclosures when they seek to float their shares in Hong Kong by way of introduction, which does not involve selling new shares or raising any money, under their US counterpart's request. They are also asked to prepare audit documents for the 2021 financial year, in line with US regulators' requests for more disclosure. China's regulators are also considering a proposal to allow their US counterparts to inspect the audit working papers of some Chinese firms that do not gather sensitive data.


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