The U.S. Public Company Accounting Oversight Board and two Chinese regulators have reached an agreement to allow sharing of documents and information associated with investigative duties. The pact between the PCAOB and the China Securities Regulatory Commission and the Ministry of Finance does not permit joint inspections in China, which the PCAOB continues to seek. The deal is important because U.S. regulators have expressed frustration about their inability to inspect audit work performed for Chinese companies that trade on U.S. exchanges.

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