ZH: China tells state firms to ditch Western-linked Big Four auditors over 'national security concerns'

ZERO HEDGE reports:

China’s Ministry of Finance has instructed state-owned enterprises to phase out contracts with US-linked global audit firms as Beijing seeks to decouple and curb the influence of Western auditors, according to Bloomberg, citing people familiar with the matter.

Last month, the Ministry of Finance urged SOEs to let contracts expire with the Big Four auditing firms, including PricewaterhouseCoopers LLP, Ernst & Young, KPMG, and Deloitte & Touche LLP. The reason has been due to national security concerns. One of the ...