Beijing suspends PwC’s China unit for 6 months in record penalty over Evergrande audit

Quick Summary:

PwC Zhong Tian helped cover up and "even condone” Evergrande’s fraud, regulators say.

The firm said, as part of its “accountability and remedial actions”, PwC China’s territory senior partner Daniel Li stepped down and Ms Hemione Hudson, the firm’s global risk and regulatory leader, has taken over from him.

The ministry also imposed a fine of 116 million yuan on PwC Zhong Tian for its auditing failure of Hengda in 2018.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaHong Kong

Topics: Statement Zhong Chinese Million Yuan Hengda Months China Tian Firm Pwc’s

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-13 @ 19:49:00 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 618 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 22492624

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