PwC’s China unit faces record US$70 million fine, 6-month ban for Evergrande failures

Quick Summary:

PwC’s mainland unit could face a 500 million yuan (US$70 million) fine and a six-month ban on business for its failure in the audit of bankrupt developer China Evergrande Group, sources say.

PwC Zhong Tian has informed its clients about the impending penalty in recent days, the sources said.

Big Four rival Deloitte’s mainland unit in Beijing was fined 212 million yuan in 2023 and suspended for three months from taking on new business.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong KongChina

Topics: Zhong Fine Clients Accounting Yuan Firm Evergrande People Tian Group China

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-22 @ 15:05:39 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 652 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 26 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 22204499

View Article Analysis

About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 16 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 21 minutes ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #42

Publisher Details

Frequently Asked Questions