Public Company Accounting Oversight Board member Jeanette Franzel said the ability to inspect auditing firms in China remained one of the PCAOB’s greatest challenges, but the PCAOB is making progress on negotiating a memorandum of understanding with the Chinese government.

Franzel spoke Friday during a conference on sustainable business at Baruch College’s Zicklin Center for Corporate Integrity. She also noted that the PCAOB has taken a brief pause in its deliberations around a concept release proposing mandatory audit firm rotation, but would make a decision on the next steps later this year.

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