US audit observers to gain access to China in tentative agreement

US authorities have reached a tentative agreement to observe official auditor inspections in China, moving a step closer to better oversight in that country, an official at a US audit watchdog group said.

The plan to allow US observers in China would be a "trust-building exercise" that could lead to more co-operation, Lewis Ferguson, a board member of the Public Company Accounting Oversight Board, said.

via Business feed http://www.scmp.com/business/china-business/article/1045307/us-audit-observers-gain-access-china-tentative-agreement