China qualifies five foreign accountants to audit financial listed firms

SHANGHAI (AFX-ASIA) - The China Securities Regulatory Commission and the Ministry of Finance have granted qualifications for five overseas accountancy firms to audit the accounts of listed companies in the financial sector, the 

China Securities newspaper reported.

	    The five companies are Arthur Andersen, Deloitte Touche Tohmatsu, Ernst & Young, KPMG and Price Waterhouse Coopers.

	    According to regulations issued in January, listed financial companies must have their financial reports audited by both domestic and overseas accountants, the report said.

	    The qualifications granted to the five firms are effective for one year, it said.

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