Reported about 2 months ago
Ernst & Young (EY) and KPMG have capitalized on PwC's regulatory troubles in China, securing over half of PwC's corporate clients, including major state-owned enterprises. PwC is under scrutiny following its auditing of China Evergrande Group, which is implicated in a massive fraud. This has prompted a significant client exodus from PwC, further damaging its reputation and driving firms to seek services from EY and KPMG, who are offering reduced fees and expanding their workforce to accommodate the influx of new clients.
Source: YAHOO