Chinese firms need to provide accounts

US and Chinese regulators are set to go head-to-head in the next few months over differences in their accounting standards.

The US Securities and Exchange Commission (SEC) is investigating potential fraud by Chinese companies publicly listed in the US.

The SEC has accused the Chinese affiliates of the "Big Four" accounting firms - Deloitte Touche, Ernst & Young, KPMG and PricewaterhouseCoopers - and smaller rival BDO of withholding information.

Jame DiBiasio, editor of AsianInvestor magazine, said if companies cannot provide detailed accounts and they want to be listed overseas, they face a "major blockage".