KPMG’s filing with the PCAOB to continue its previous registration is now available on the PCOAB website. The registered firm is now listed as KPMG Huazhen, (Special General Partnership). KPMG filed on August 14th. The new firm was established on August 1. The filing is on Form 4.
KPMG declined to agree to certain requirements related to cooperation with the PCAOB and production of documents, citing foreign law as an obstacle.
The most important part of the document, Exhibit 99.4 is not completed. This is where KPMG would certify that (3) as part of that transaction, a majority of the persons who held equity ownership interests in obtained equity ownership interests in, or became employed by the new firm. I don’t believe they can answer this question positively, since the joint venture was owned by two entities that are not partners nor employees in the new firm.
I do not know whether the PCAOB has to approve this application. KPMG Huazhen (Special General Partnership) does appear as a registered firm on the PCAOB website.