The first PCAOB observations took place in late October By Dena Aubin NEW YORK | Thu Nov 8, 2012 5:52pm EST (Reuters) - U.S. regulators have made another step in normalizing relations with China on oversight of corporate auditing aimed at the many Chinese companies listed on U.S. stock exchanges. http://www.reuters.com/article/2012/11/08/us-usa-audit-china-idUSBRE8A71DR20121108