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SEC, PCAOB Scrutinize Overseas GAAP Knowledge

Tammy Whitehouse | December 16, 2010

As regulators clamp down on shoddy financial reporting and auditing that is creeping into U.S. capital markets from overseas, look for more middle-market alliances like the one forged recently between Bernstein & Pinchuk and Marcum.

Bernstein & Pinchuk is a regional firm with offices in New York and Beijing, and Marcum is a regional firm with offices mostly concentrated on the East Coast. Both firms are registered with the Public Company Accounting Oversight Board to perform audits for publicly held companies listed on U.S. exchanges, and both firms earned clean reports after their most recent inspections.

But Bernstein & Pinchuk is the firm with the boots on the ground in China, with three offices and about 30 clients for audits or audit-related services, said cofounding partner...

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