China 9D Construction Group (fka CNAG)

[sunsailor]

U.S. Regulators Push Chinese to Resume Auditor-Inspection Talks.
"(DATED: November 24, 2011, 7:47 AM EST) "U.S. regulators traveled to China in July for a meeting that was supposed to be followed by a visit from Chinese officials. The U.S. meeting was canceled last month, Doty said.
“The next set of meetings has to result in some kind of protocol that enables us to share information and do the inspections,” Doty said. “We need to have an accord -- a statement of protocol -- so that inspections can be scheduled and commence in 2012.”
The PCAOB’s latest public list of China-based companies whose audits are unavailable includes 143 firms working with 10 auditors. Chinese officials have expressed concern that U.S. inspections could reveal state secrets, according to Doty.
“We can’t simply pretend that China is different,” he said. “You can’t come sell your securities here and ignore the fact that the law requires and people want to know that the auditor’s been inspected.”
The board, which was created by the Sarbanes-Oxley Act of 2002 after accounting scandals contributed to the collapses of Enron Corp. and WorldCom Inc., has authority to de-register China-based auditors, which could start a chain reaction leading to companies being unable to list on U.S. exchanges.
“We don’t know that we’ll have to do it,” Doty said, adding that it’s in both nations’ best interests to come up with joint inspections. “There isn’t any reason that we can see why that can’t be achieved,” he said." Progressing! STAY OPTIMISTIC!! IT WILL BE RESOLVED SOON!
http://www.businessweek.com/news/2011-11-24/u-s-regulators-push-chinese-to-resume-auditor-inspection-talks.html
Quote:
“There isn’t any reason that we can see why that can’t be achieved,”
-James Doty, chairman of the Public Company Accounting Oversight Board. (11/24/2011) Bloomberg Businessweek.
U.S./CHINA GOVERNMENT RED TAPE IS ALL - NO DOOMSDAYS - JUST NEW ACCORDS WORKED OUT - SLIGHT DELAYS ARE NO BIG DEAL TO (LONG) SHAREHOLDERS IN THE LONG RUN!