Drew Bernstein, Co-Managing Partner, MarcumBP

    Recent Posts

    House Passes Holding Foreign Companies Accountable Act

    Showdown Over Audit Inspections Reaches New Stage

    On December 2nd, 2020, the House of Representatives unanimously approved a bill that would bar Chinese companies from trading in the U.S. if their auditors are not subject to inspections by the PCAOB within three years. The "Holding Foreign Companies Accountable Act" was passed by the Senate in May and will now be sent to President Trump to be signed into law.

    In SEC Audits, Investing in China

    Could the SPAC craze come to Hong Kong?

    Four special purpose acquisition companies (SPACs) headquartered in Hong Kong carried out an initial public offering in the United States this year.

    Highlights from a keynote speech on ‘IPO Success Factors for Tech Companies from Greater China’ at the Cyberport Venture Capital Forum

    For those unfamiliar with the term, SPACs, also known as ‘blank check companies’, seek to pool money from investors with a plan to acquire an existing asset. For example, it could be a company whose existing investors are looking for an exit and would be happy to sell their interest. For companies, it gives them a convenient method of getting onto an exchange – SPACs are already listed on stock markets through an initial public offering (IPO) – and it gives the people backing the SPAC a chance to quickly get exposure to an emerging trend like the stock market bull run experienced by technology companies this year.

    In Advisory

    IPO Preparedness Amid the Coronavirus

    The safety of our staff, clients and their families is the top priority amid the coronavirus. During this time, we are offering flexibility to our staff to work from home if they are able to do so. We are also shipping thousands of supplies to our staff in China. For our staff who can work remotely, we are conducting trainings intended to keep skills sharp.

    In Internal Audit & Compliance, SEC Audits, Advisory, Audit & Assurance Services, China Economy, IPOs
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