U.S. Audit Watchdog Moves Closer to Enforcing Law That Could See Chinese Firms Delisted

The U.S. auditing regulator has proposed new rules that would help it implement a recent law that could trigger the delisting of Chinese companies whose audits cannot be inspected by the watchdog.

The proposed rules, released by the Public Company Accounting Oversight Board (PCAOB) on Thursday for public comment, provide a framework that would make it easier for the regulator to determine whether it has been unable to completely inspect or investigate a foreign audit firm.