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Issuers That Are Audit Clients of PCAOB-Registered Firms from Non-U.S. Jurisdictions where the PCAOB is Denied Access to Conduct Inspections

In order for their securities to be traded in U.S. capital markets, public companies, whether located in the United States or abroad, must comply with certain U.S. legal requirements, including the requirement to periodically file audited financial statements with the U.S. Securities and Exchange Commission ("SEC"). As required by the Sarbanes-Oxley Act of 2002, the auditor of those financial statements — whether a U.S. auditor or a non-U.S. auditor — must be registered with, and therefore subject to the jurisdiction of, the Public Company Accounting Oversight Board. This includes undergoing regular PCAOB inspections to assess the auditor's compliance with U.S. law and professional standards in connection with its audits of "issuers," as defined in the Sarbanes-Oxley Act.

PCAOB inspections may result in the identification of deficiencies in one or more of an audit firm's audits of issuers and/or in its quality control procedures which, in turn, can result in an audit firm carrying out additional procedures that should have been performed already at the time of the audit. Those procedures have sometimes led to the audited public company having to revise and refile its financial statements. In addition, through the quality control remediation portion of the inspection process, inspected firms identify and implement practices and procedures to improve future audit quality.

Because of the position taken by certain non-U.S. authorities, the PCAOB currently is prevented from inspecting the U.S.-related audit work and practices of PCAOB-registered firms in certain European countries, China, and — to the extent their audit clients have operations in China — Hong Kong. As a result of these obstacles, investors or potential investors in U.S. capital markets who rely on the audit reports of PCAOB-registered firms in these jurisdictions are deprived of the potential benefits of PCAOB inspections of these auditors. For the information of those investors and potential investors, the PCAOB publishes and regularly updates a list identifying each issuer whose PCAOB-registered auditor is located in a jurisdiction where obstacles to PCAOB inspections exist. This list is derived from annual reports on Form 2 filed with the PCAOB by registered public accounting firms in 2012 and 2013 which, in combination, encompass audit reports issued by the firms in the period from April 1, 2011 to March 31, 2013. Except where otherwise indicated, the firm indicated in its Form 2 for 2013 having provided an audit report for the issuer.

The list is limited to issuers for which auditors from the jurisdictions in question reported having issued audit reports.** At the same time, it should also be recognized that there may be auditors from those jurisdictions, including auditors identified in the list, that play a substantial role in the audits of numerous multinational issuers not listed here. Even though these auditors do not issue audit reports for such multinational issuers, the audit work they perform is relied upon by the issuer's principal auditor, in the U.S. or elsewhere. That work is often significant to the audit of the financial statements the multi-national issuer files with the SEC and would also be within the scope of PCAOB inspections. Additional information is available under Related Information.

**Some issuers appear in the list more than once, showing more than one auditor. In some cases, this is because the firm had different auditors in different years. In other cases, it is because the issuer had a joint audit, with respect to which more than one auditor reported having issued an audit report. In addition, some companies that appear in the list may have ceased to be issuers since the time of the audit report cited in the relevant firm's annual report on Form 2. Finally, some auditors shown on the list have been inspected once by the PCAOB, either because, in the case of some firms in Greece and Ireland, an inspection was conducted before the current obstacles arose, or because, in the case of some firms in Hong Kong, the inspections did not involve, or no obstacles were raised to, review of audit work relating to a company's operations in China.

 

 

 Issuer Audit Clients

 
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IssuerAuditorAuditor Location
21Vianet Group, Inc.Ernst & Young Hua Ming LLPChina
3SBio Inc.Ernst & Young Hua Ming LLPChina
51job, Inc.PricewaterhouseCoopers Zhong Tian LLPChina
7 Days Group Holdings LtdKPMGChina
ACL Semiconductors Inc.Albert Wong & Co.Hong Kong
Acorn International, Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
Actions Semiconductor Co., Ltd.Deloitte Touche TohmatsuHong Kong
Advanced BioMedical Technologies, Inc.BAKER TILLY HONG KONG LIMITEDHong Kong
AEGEAN MARINE PETROLEUM NETWORK INCDeloitte Hadjipavlou,Sofianos, Cambanis SAGreece
AGGELIKI SHIPPING LTDDeloitte Hadjipavlou,Sofianos, Cambanis SA (2012 Form 2)Greece
Agria CorpErnst & Young Hua Ming LLP (2012 Form 2)China
Agrisolar Solutions, IncHKCMCPA Company Limited (2012 Form 2)Hong Kong
Airmedia Group Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
ALLENDALE INVESTMENTS S.ADeloitte Hadjipavlou,Sofianos, Cambanis SA (2012 Form 2)Greece
Allied Irish Banks plcKPMGIreland
Allships LtdErnst & Young (Hellas) Certified Auditors Accountants S.A.Greece
AlphaRx, Inc.Albert Wong & Co.Hong Kong
ALTERWALL BUSINESS INCDeloitte Hadjipavlou,Sofianos, Cambanis SA (2012 Form 2)Greece
Aluminum Corporation of China LimitedPricewaterhouseCoopersHong Kong
Ambow Education Holding Ltd.PricewaterhouseCoopers Zhong Tian LLPChina
Anheuser-Busch Inbev SAPricewaterhouseCoopers Reviseurs d'EntreprisesBelgium
Antiviral Technologies, Inc.Albert Wong & Co.Hong Kong
AOXING PHARMACEUTICAL COMPANY, INC.BDO China Dahua CPA Co.,Ltd.China
ArcelorMittalDeloitte AuditLuxembourg
Asia Green Agriculture CorporationPKFHong Kong
Asia Pacific Wire & Cable Corp LtdErnst & YoungChina
AsiaInfo-Linkage, Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
ATA Inc.KPMGChina
AutoNavi Holdings LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
AVAST Software B.V.Ernst & Young Audit, s.r.o. (2012 Form 2)Czech Republic
Baidu, Inc.Ernst & Young Hua Ming LLPChina
Baoshinn CorporationAlbert Wong & Co. (2012 Form 2)Hong Kong
BIOPACK ENVIRONMENTAL SOLUTIONS INC.WONG LAM LEUNG & KWOK C.P.A. LIMITEDHong Kong
Biostar Pharmaceuticals, IncClement C.W. Chan & Co.Hong Kong
Biostar Pharmaceuticals, Inc.Mazars CPA Limited (2012 Form 2)Hong Kong
Bitauto Holdings LtdErnst & Young Hua Ming LLPChina
Blue Spa IncorporatedDominic K. F. Chan & CoHong Kong
Bodisen Biotech, IncClement C.W. Chan & Co.Hong Kong
Bona Film Group LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
Bonso Electronics International Inc.Moore StephensHong Kong
BOX SHIPS INCDeloitte Hadjipavlou,Sofianos, Cambanis SAGreece
Business Development Solutions, Inc.PKF (2012 Form 2)Hong Kong
Camelot Information Systems Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
Canadian Solar Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
CAPITAL PRODUCT PARTNERS L.P.Deloitte Hadjipavlou,Sofianos, Cambanis SAGreece
Cathay Industrial Biotech Ltd.KPMG (2012 Form 2)China
Central European Distribution CorpErnst&Young Audit Sp .o.o.Poland
Central European Distribution CorporationPricewaterhouseCoopers Sp. z o.o.Poland
Changda International Holdings, Inc.Mazars CPA Limited (2012 Form 2)Hong Kong
Changyou.com LtdPricewaterhouseCoopers Zhong Tian LLPChina
Charm Communications Inc.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
Chatter Box Call Center LtdDominic K. F. Chan & Co (2012 Form 2)Hong Kong
Chemspec International LtdKPMG (2012 Form 2)China
CHINA AUTOMOTIVE SYSTEMS INCPricewaterhouseCoopers Zhong Tian LLPChina
China BAK Battery, Inc.PKFHong Kong
China Biologic Products, Inc.KPMGChina
China Cablecom Holdings LimitedUHY Vocation HK CPA Limited (2012 Form 2)Hong Kong
China Carbon Graphite GroupBDO China Dahua CPA Co.,Ltd. (2012 Form 2)China
China Ceetop.com, IncClement C.W. Chan & Co.Hong Kong
China Ceramics Co.LtdGrant Thornton (2012 Form 2)China
China Cord Blood CorporationKPMGChina
China Digital TV Holding Co., Ltd.Deloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Distance Education Holdings LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Dredging Group Co., Ltd.UHY Vocation HK CPA LimitedHong Kong
China Eastern Airlines Corporation LimitedPricewaterhouseCoopersHong Kong
China Education Alliance IncAlbert Wong & Co.Hong Kong
China Energy Recovery, Inc.PricewaterhouseCoopers Zhong Tian LLP (2012 Form 2)China
China Equity Platform Holding Group LtdAlbert Wong & Co. (2012 Form 2)Hong Kong
China Executive Education Corp.Albert Wong & Co. (2012 Form 2)Hong Kong
China Finance Online Co. LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Gengsheng Minerals, Inc.PKFHong Kong
China Gerui Advanced Materials Group LimitedUHY Vocation HK CPA LimitedHong Kong
China GrenTech CORP LTDPricewaterhouseCoopers Zhong Tian LLP (2012 Form 2)China
China Hydroelectric CorpErnst & Young Hua Ming LLPChina
China Kanghui HoldingsErnst & Young Hua Ming LLPChina
China Life Insurance Company LimitedPricewaterhouseCoopersHong Kong
China Linen Textile, China VParker Randall CF H.K. CPA Ltd. (2012 Form 2)Hong Kong
China Lodging Group, LtdDeloitte Touche Tohmatsu Certified Public Accountants LLPChina
China Marine Food Group LimitedBDO China Dahua CPA Co.,Ltd.China
China Mass Media Corp.PricewaterhouseCoopers Zhong Tian LLPChina
China Medical Technologies, Inc.PricewaterhouseCoopers Zhong Tian LLP (2012 Form 2)China
China Metro-Rural Holdings LimitedPricewaterhouseCoopersHong Kong
China Ming Yang Wind Power Group LimitedKPMGChina
China Mobile Games & Entertainment Group LtdErnst & Young Hua Ming LLPChina
China Mobile LimitedKPMGChina
China Multimedia, Inc.PKF (2012 Form 2)Hong Kong
China Natural Resources IncErnst & YoungChina
China Nepstar Chain Drugstore LtdKPMGChina
China Networks International Holdings Ltd.UHY Vocation HK CPA LimitedHong Kong
China New Borun CorporationBDO China Shu Lun Pan Certified Public Accountants LLPChina
China North East Petroleum Holdings LtdBAKER TILLY HONG KONG LIMITED (2012 Form 2)Hong Kong
China Nuokang Bio-Pharmaceutical Inc.Ernst & Young Hua Ming LLPChina
CHINA NUTRIFRUIT GROUP LTD.HLB HODGSON IMPEY CHENG (2012 Form 2)Hong Kong
China Pediatric Pharmaceuticals, IncClement C.W. Chan & Co.Hong Kong
China Petroleum & Chemical CorporationKPMGChina
China Pharmaceuticals, IncClement C.W. Chan & Co. (2012 Form 2)Hong Kong
China Power Equipment, Inc.Mazars CPA Limited (2012 Form 2)Hong Kong
China Precision Steel, Inc.Moore StephensHong Kong
CHINA PREMIUM LIFESTYLE ENTERPRISE, INC.HLB HODGSON IMPEY CHENG (2012 Form 2)Hong Kong
China Printing & Packaging, IncClement C.W. Chan & Co.Hong Kong
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Related Information

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