China Slams $62m Fne Ban On PwC For Audit Failure

China Slams $62m Fne Ban On PwC For Audit Failure …C0NTINUE READING HERE >>>

The Chinese arm of PriceWaterCoopers (PWC) has been banned in China for six months with a fine of Rmb441 million, around $62 million slammed on it for auditing failures related to the collapsed property developer Evergrande, in Beijing’s toughest action yet against a Big Four firm. Techeconomy has reported.

The move follows a March announcement by China’s securities regulator that PwC China had approved Evergrande’s accounts even though the developer had inflated mainland revenues by…

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