The CBRC or its agencymayrequire an autofinancecompany to replacean accountingfirm whose professionalskillsorindependencefails to satisfy regulatoryrequirements.
He also explained the importance of including in the future constitution the independence of regulatory bodies on public and private audiovisual media.
But the government is still sending mixed signals about the independence of regulatory agencies, and this will discourage private investment in infrastructure.
Firms openly flout the prohibitions regarding audit partner compensation tied to business development and still struggle mightily with enforcement of legal and regulatory compliance activities such as independence and rules against insider trading.