Business & Finance
17 July 2024, 1:57 pm 1 minute
Reuters exclusively reported that PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China as a regulatory investigation and an exodus of clients darken business prospects. The move follows Chinese regulators’ scrutiny of PwC this year for its role as the auditor of troubled property giant China Evergrande Group.
Market Impact
Chinese authorities have been examining PwC’s role in Evergrande’s accounting practices after the securities regulator accused the developer in March of a $78-billion fraud over a period of two years through 2020.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story