China urges state firms to drop big four auditors on data risk
Business
China urges state firms to drop big four auditors on data risk
(Reuters) - Chinese authorities have urged state-owned firms to phase out using the four biggest international accounting firms, signaling continued concerns about data security, Bloomberg News reported on Wednesday.
China's Ministry of Finance is among government entities that gave window guidance to some state-owned enterprises as recently as last month, urging them to let contracts with the Big Four auditing firms expire, the report said, citing people familiar with the matter.
