In January 2014, an SEC administrative law judge barred the Chinese units of the “Big Four” accounting firms from auditing businesses that do business in the United States because they refused to turn over certain documents to SEC investigators on the ground that doing so would violate Chinese law. Although the decision does not go into effect immediately, and the firms intend to appeal, if upheld the decision could have a negative impact on Chinese companies that use Big Four firms to audit financial statements used in SEC filings, as well as U.S. companies with significant operations in China. To learn more, see our recent Alert.