For companies looking to list today, he argues that the challenges are not meaingful higher, but there are more issues to be overcome than two years ago, such as the quality of the auditing and scrutiny over the ViE investment structure.

FORBES: Go Public, Take Private, Make A Deal: The Big Debate in China

The PCAOB approved Auditing Standard No. 7, Engagement Quality Review on July 28, 2009.

FORBES: Auditors and Audit Reports: Is The Firm's "John Hancock" Enough?