Reported 12 months ago
PricewaterhouseCoopers (PwC) has appointed Daniel Li as the new head of their China operations amidst investigations by financial regulators in China and Hong Kong. Li, based in Shanghai, took over from Raymund Chao on July 1. PwC faced regulatory scrutiny for its auditing role at troubled company China Evergrande Group. The firm is under investigation for potential deficiencies and quality issues in its audits. China Evergrande Group's financial accounts are also being investigated. Since the investigations, PwC has lost clients in China, with 33 listed companies changing auditors. Li is the first mainland Chinese executive to lead a Big Four accounting firm in China and brings over 30 years of experience to the role.
Source: YAHOO