Pwc: China is set to impose a record fine on PricewaterhouseCoopers LLP and may suspend some of its local operations due to its involvement in a major financial fraud case with China Evergrande Group.
China is set to impose a record fine on PricewaterhouseCoopers LLP and may suspend some of its local operations due to its involvement in a major financial fraud case with China Evergrande Group. The Ministry of Finance is expected to announce the penalties soon, with a potential fine of at least 1 billion yuan. This move comes amidst heightened scrutiny on financial risks in China, with President Xi Jinping emphasizing the need for stronger financial oversight. PwC s Chinese arm, PricewaterhouseCoopers Zhong Tian LLP, was Evergrande s auditor during the period in question and has faced challenges in other jurisdictions as well.
China considers record penalty for PwC over Evergrande auditing work business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
China is poised to impose a record fine on PricewaterhouseCoopers LLP and suspend some of the global auditor's local operations over its role in one of