Chinese authorities investigate PwC's role in Evergrande's accounting amid fraud allegations.
Chinese authorities are scrutinizing PricewaterhouseCoopers LLP's (PwC) role in China Evergrande Group's accounting practices as the developer faces accusations of a $78B fraud. The country's securities regulator accuses Evergrande's main subsidiary, Hengda Real Estate Group, of overstating revenue. Chinese officials are now looking into PwC, examining its auditing process for Evergrande, as part of ongoing probes of the developer's founder, Hui Ka Yan.
March 22, 2024
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