Reported 23 days ago
The ongoing investigation into PricewaterhouseCoopers LLP (PwC) has now shifted focus to Hong Kong after the firm received a record 441 million yuan fine in mainland China due to its audit misconduct involving the failed developer China Evergrande Group. While Hong Kong regulators have initiated their review of PwC's local operations, the firm also grapples with legal action from Evergrande's liquidators citing negligence. The fallout from this scandal poses significant threats to PwC's operations in the region as several clients consider switching auditors.
Source: YAHOO