August 26, 2022

Brown Applauds PCAOB Efforts to Improve Transparency for Investors

WASHINGTON, D.C. – Today, U.S. Sen. Sherrod Brown, Chair of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after the U.S. Public Company Accounting Oversight Board (PCAOB) reached an agreement with authorities in China to allow the PCAOB to do critical inspections of audit records of public accounting firms headquartered in mainland China and Hong Kong.

“Today’s agreement sets the stage for long needed regulatory oversight. For too long, Chinese companies listed on U.S. exchanges have avoided accountability and transparency measures, hurting consumers in the process,” said Sen. Brown. “PCAOB Chair Williams’s work to achieve this deal will finally allow U.S. oversight over more companies using the U.S. markets and help protect Americans’ money.”