London's Regulatory Repositioning: UK Plans to Adjust Third-Country Audit Supervision Rules

WealthCoffee · 2026-03-04T09:51:46+00:00

The UK Financial Reporting Council has proposed reform recommendations, planning to adjust the regulatory rules for "Third Country Auditors," allowing eligible Chinese companies to issue Global Depositary Receipts in London under Chinese auditing standards without having to fully comply with International Auditing Standards.

WealthCoffee

2026-03-04 09:51:46

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Strategic Background Behind the Relaxation of Regulations

Recently, the UK Financial Reporting Council (FRC) released a consultation document proposing reforms to the regulation of “Third Country Auditors” (TCA). According to the proposal, eligible Chinese registered companies issuing Global Depositary Receipts (GDRs) in London may, within certain limits, apply Chinese Standards on Auditing (CSAs) instead of being required to fully comply with International Standards on Auditing (ISAs).

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