China: Beijing Urges SOEs to Ditch Big Four, Highlighting PCAOB Hurdles

China's Ministry of Finance has urged some state-owned enterprises to switch to Chinese or Hong Kong auditing firms when their contracts with the Big Four -- PwC, EY, KPMG and Deloitte -- expire in order to protect national data security, reduce US sectoral influence and bolster China's domestic accounting industry, Bloomberg reported Feb. 22....