PwC considers halving China financial services audit staff: Report

Quick Summary:

PwC's onshore arm - PricewaterhouseCoopers Zhong Tian LLP, had revenues of 7.92 billion yuan ($1.1 billion) last year, making it China's top-earning auditor, official figures show.

The size of the cuts in its financial services auditing unit and other business lines is being reported for the first time by Reuters.

Over the past few months, a growing number of clients has been leaving PwC, mainly state-owned or -backed enterprises and financial institutions, following the launch of the regulatory investigation into its auditing of Evergrande.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaHong Kong

Topics: Redundancies PwC China financial services Audit Job cuts

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 17:10:48 (10 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 547 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 21651840

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