U.S. PCAOB says is able to inspect firms in China for first time

NEW YORK, Dec 15 (Reuters) -

The U.S. Public Company Accounting Oversight Board on Thursday said it has determined that it has full access to inspect and investigate firms in China for the first time in history.

The U.S. accounting watchdog said it exercised sole discretion to select firms for audit and had selected two, KPMG Huazhen LLP in China and PricewaterhouseCoopers in Hong Kong.