PwC expects 6-month ban in China for Evergrande audit, FT says

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The Straits Times 4h ago

PwC expects 6-month ban in China for Evergrande audit, FT says - The Straits Times

Quick Summary:

Ban will potentially come with large fine and would be the toughest ever action by Chinese regulators against a Big Four firm.

PwC told clients its staff will keep working during the suspension and will be able to certify the audits on 2024 annual reports once the ban is lifted in March, the FT said.

The business ban that PwC outlined to its customers will potentially come with a large fine and would be the toughest ever action by the Chinese regulators against a Big Four firm, the newspaper reported, citing unidentified sources.