Caixin OnlineFinance & EconomicsTop Stories Finance Central Gov't Pushes Big Banks to Hire Local Auditors
08.27.2012 18:43

Central Gov't Pushes Big Banks to Hire Local Auditors

Ministry of Finance officials recently called executives at ICBC and ABC to tell them to consider domestic companies
By staff reporter Wen Xiu
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(Beijing) – Beijing is considering tougher measures to compel state-owned banks to hire local auditors, part of its long-term push to strengthen domestic auditing services.

Officials from the Ministry of Finance called executives at Industrial and Commercial Bank of China and the Agricultural Bank of China to ask them to include domestic firms as candidates for their next auditor, several sources with knowledge of the matter said.

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Twenty months into a campaign against corrupt leaders, the crackdown is accelerating and the public is in the loop
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