China moves to raise penalties on auditors as fraud campaign deepens (opens original article in a new tab)

China plans to raise penalties for auditors involved in financial fraud, extending liability to clients and entities, as part of a broader campaign against corporate fraud.

• China proposes to increase penalties for auditors issuing false reports to 10 times illegal gains
• Draft amendment extends liability to clients and entities involved in financial fraud
• New measures aim to curb audit fraud and protect investors' rights