With the collapse of talks between the Public Company Accounting Oversight Board and its Chinese counterparts, a trans-Pacific auditor inspection conflict is escalating and threatening to spin out of control.
The PCAOB will soon be forced to follow its own rules and de-register Chinese accountants, a move that would likely lead to a series of tit-for-tat responses and ultimately could further harm the already delicate financial and business relations between the United States and China.
