April 30, 2015

China Delegation Visits Marcum to Discuss Cross-Border Transactions and Going Public in the U.S.

Press Release

China Delegation Visits Marcum to Discuss Cross-Border Transactions and Going Public in the U.S.
New York City, NY – On April 27, 2015, a delegation of 31 top companies from China visiting New York to learn about U.S. financial markets attended a presentation at accounting firm Marcum LLP to discuss cross-border mergers and acquisitions and the U.S. IPO process. The meeting was conducted by Marcum Bernstein Pinchuk, an international tax, audit and advisory firm specializing in services to Chinese publicly traded companies and privately held Chinese companies planning to raise capital in the U.S.

The delegation was organized by the China-US Investment Expo, whose mission is to promote investment, long-term collaboration and the exchange of information between Chinese and American entrepreneurs. Participants included senior executives from publicly traded and privately held companies in China’s technology and finance sectors, including members of the China Fortune 500.

The presentation was led by Rong Liu, an MBP Partner who plays a central role in the firm’s five China offices, and was co-hosted by Drew Bernstein, MBP’s Co-Managing Partner, and David Bukzin, Partner-in-Charge of Marcum LLP’s SEC Services Practice group.

“As more Chinese companies pursue public listing in the U.S., these companies need audit and advisory services from experienced CPA firms that focus on SEC practices in regard to listing standards and accounting principles,” Mr. Liu said. “The senior executives in attendance demonstrated a lively interest in the possibility of listing in the U.S., making U.S. acquisitions, and forming strategic partnerships. They showed great curiosity about U.S. accounting and regulatory standards and how to maintain compliance with unfamiliar rules.

“The reputation and credibility of a CPA firm has become an issue for investors, as Chinese companies have become subject to frequent short attacks and accusations of alleged fraud. The delegation members expressed a high priority on aligning with experienced and well regarded advisors in order to minimize the possibility of becoming targets for such accusations  and to properly manage the situation should it arise, ” Mr. Liu concluded.

A seamless system marrying global talents is what makes MarcumBP unique in China, according to Mr. Bernstein. “Marcum is one of just a few U.S. firms practicing in China right now,” he said. “Most CPA firms conduct their China operations through local, independently registered firms. We take a very different approach as a top 15 U.S. firm operating from its own offices in China and leveraging Chinese talent as employees of the firm. Many U.S. accounting firms rely on local partner firms to do all of their field work.  But Marcum staffs and trains our own people in China, are part of a cross-border audit team alongside their U.S. colleagues. They thoroughly understand the requirements under S.E.C. accounting rules, just as our U.S. auditors are well versed in the reality of how business is done on the ground in China. We think that our approach has a much higher probability of delivering opinions that are backed by reliable evidence, properly evaluating the risks of fraud or internal controls lapses, and integrating field work with deep SEC accounting understanding and a fully integrated quality control process.”

For more information, visit Marcum Bernstein Pinchuk at www.marcumbp.com.

About Marcum Bernstein & Pinchuk LLP
Marcum Bernstein & Pinchuk (MarcumBP), a PCAOB-registered firm, provides a full range of audit and assurance, tax and transaction advisory services for clients in a variety of industries throughout the world. With offices in New York, Beijing, Guangzhou, Shanghai, Hangzhou and Shenzhen, MarcumBP provides the expertise, cultural understanding and support needed to efficiently serve and advise the firm’s clients. MarcumBP currently provides services to over 50 clients in the China market. 

For more information, please visit: www.marcumbp.com.

About Marcum LLP
Marcum LLP is one of the largest independent public accounting and advisory services firms in the United States. Ranked #15 nationally, Marcum LLP offers the resources of 1,300 professionals, including over 160 partners, in 23 offices throughout the U.S., Grand Cayman and China. Headquartered in New York City, the Firm’s presence runs deep, with full-service offices strategically located in major business markets. Marcum is a member of the Marcum Group, an organization providing a comprehensive range of professional services spanning accounting and advisory, technology solutions, wealth management, and executive and professional recruiting. The Marcum Group companies include Marcum LLP; Marcum Technology LLC; Marcum Search LLC; Marcum Financial Services LLC; Marcum Bernstein & Pinchuk LLP; and MarcumBuchanan Associates LLC.

For more information, visit www.marcumllp.com.