PCAOB and China sign audit deal

Good news for BABA

“PCAOB Signs Agreement with Chinese Authorities, Taking First Step Toward Complete Access for PCAOB to Select, Inspect and Investigate in China”



Next step is PCAOB making a decision in December. It’s going be interesting. If they give a thump up, people can trust the accounting of many Chinese ADRs and this will be quite bullish.