中美会计跨境监管僵局中美方的红白脸

    美国上市公司会计监管委员会（PCAOB）主席詹姆斯•多蒂今天向美国证券交易委员会（SEC）提交了他的预算计划。多蒂说：

    对在PCAOB注册的中国公司进行审查一直都特别困难。不过，三年来，在你们的支持下，财政部长和外交部长每年都邀请我参加中美战略与经济对话，对此我表示感谢。

    实际情况证明，这些对话有助于取得一些进展。2013年，我们和中国政府部门就执行问题达成了合作协议。

    基于最近的沟通，我乐观地认为我们能在2014年实现长久以来的目标，也就是和中方签署协议，进而可以审查在PCAOB注册的中国公司的审计工作。

    面对媒体，多蒂表示，中国政府机构和PCAOB已经交换了协议草案。中方一直不愿意让PCAOB在中国境内开展调查。多蒂称，他们正在考虑其他途径，比如转移审计工作底稿以及允许相关人员在中国境外接受调查。鉴于我妻子就是一名四大会计师事务所审计合伙人，我建议这样的调查在美国境内进行，而且相关人员要从中国直飞美国。

    我认为，在和中国政府机构进行谈判的过程中，PCAOB和SEC似乎一直在分别扮演红脸和白脸。PCAOB一直在唱红脸——不断地和中方对话，而且签署了一些毫无意义的协议，比如双方在执行方面进行合作的谅解备忘录。SEC则一直在唱白脸——吊销四大以及部分较小事务所的执业资格，同时在表面上拒绝和中方进行磋商。

    PCAOB和SEC的需求不同。PCAOB需要接触到相关人员和数据，以便开展调查。这个机构用不利的调查报告来促使会计师事务所提高审计质量。SEC则发挥着执法机构的作用。它的调查更多地把被调查人员和公司拒于美国市场之外，而且可能让后者遭到刑事指控。由于风险更大，SEC举证的责任就更重，因而需要不受限制地接触到原始文件和相关人员。但中国方面似乎不愿意让SEC得偿所愿。

    和PCAOB签署的谅解备忘录减轻了中方和SEC谈判的压力。中国监管部门和大多数投资者都错误地认为问题已经解决，四大事务所的中国成员所遭禁则让他们感到惊讶。在和SEC达成令人满意的协议前，PCAOB应当谨慎行事，以免再次让中方钻了空子，溜之大吉。

    译者：Charlie

    PCAOB Chairman James Doty presented his budget to the SEC Commissioners today. Doty said:

    Gaining access to audits of Chinese registered firms has been particularly challenging. But I am grateful to the Secretaries of the Treasury and State for their inviting me, with your support, to participate in the Strategic & Economic Dialogue in each of the last three years.

    These meetings proved instrumental to achieving some success. In 2013, we were able to reach an enforcement cooperation agreement with Chinese authorities.

    Based on recent discussions, I am also optimistic that we will be able, during 2014, to sign a long-sought agreement to inspect the audit work of PCAOB-registered firms based in China.

    In comments to reporters Doty indicated that China and the PCAOB are exchanging draft agreements. The Chinese are having a problem with the PCAOB conducting inspections on the ground in China. Doty indicated they are looking at alternatives including moving the papers and making people available outside of China. Since I am married to a Big Four audit partner, I suggest that the inspections take place in an American location with nonstop flights from China.

    It seems to me that the PCAOB and the SEC have taken the roles of good cop and bad cop in the negotiations with China. The PCAOB have been the good guys, keeping negotiations going and making meaningless agreements like the enforcement cooperation MOU. The SEC has been the bad cop,banning the Big Four and some smaller firms from practice and apparently refusing to negotiate.

    The PCAOB and SEC do have different needs. The PCAOB needs access to people and data so that it can conduct inspections. The PCAOB uses negative inspection reports to cajole the accounting firms into upgrading the quality of their audits. The SEC, however, functions as law enforcement. SEC investigations more frequently lead to people and companies being banned from U.S. markets, and can lead to criminal prosecutions. Because the stakes are higher, the SEC is held to a higher burden of proof, and needs unfettered access to source documents and people. It does not seem China is willing to allow that.

    The PCAOB MOU took the heat off of China to negotiate with the SEC. Chinese regulators and most investors incorrectly concluded that the deal was done and were surprised with the recent ban on the Big Four. The PCAOB should be careful not to allow China another way out before a satisfactory arrangement is made with the SEC