International accounting

China’s securities regulator blacklisted six executives for their role in a $4.2 billion accounting scandal at Kangmei Pharmaceutical Co., one of the country’s biggest drugmakers.

EY’s Dutch unit is asking its partners in the Netherlands to stump up funding to help it confront the blow to its business from COVID-19 measures.

The international group has published a roadmap that focuses on four main areas of change.

The U.K.’s Financial Reporting Council has opened an investigation into Ernst & Young LLP’s auditing of NMC Health Plc, the Middle Eastern hospital operator facing fraud allegations.

An independent audit into Wirecard AG concluded that it was unable to obtain the data needed to confirm past revenues, and criticized the payment processor for internal “shortcomings” and unwillingness by its third-party partners to contribute to the report.

The International Auditing and Assurance Standards Board has released an exposure draft of a standard for improving the quality of audits of group financial statements.

Chinese investigators raided the offices of Luckin Coffee Inc. as part of a multi-agency investigation into its finances, according to a person familiar with the matter, as pressure grows on the formerly high-flying coffee chain at the center of an accounting scandal.

When it comes to companies exposed to emerging markets — most notably China — investors should beware the lack of visibility into their books.

Tycoon OK Lim and his family are set to hand over management of the company founded in 1963 to PricewaterhouseCoopers LLP, deepening the demise of an empire Lim built into one of Singapore’s most powerful oil traders.

LEA Global, an international accounting firm association also known as the Leading Edge Alliance, has appointed Anthony Szczepaniak as its CEO.