Accounting firms face U.S. SEC China charges

Dec 03, 2012, 4:06 PM EST
Robert Khuzami, Director of the Securities and Exchange Commission’s Division of Enforcement, speaks at press conference November 20, 2012 in New York.
AFP/Getty Images/STAN HONDA

The U.S. Securities and Exchange Commission has charged the Chinese affiliates of five leading accounting firms–Deloitte, Ernst & Young, KPMG, PwC and BDO–with violating securities laws for refusing to produce paperwork related to investigations into accounting fraud at nine Chinese companies.

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