China Fines PwC Over Evergrande’s Onshore Unit
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 13 2024
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Should l Buy ?
Source: WSJ
PwC Fined for Audit Failures: Chinese authorities imposed a fine of nearly $108 million on PricewaterhouseCoopers for inadequate auditing of Hengda Real Estate, part of the Evergrande Group.
Regulatory Findings: The China Securities Regulatory Commission cited PwC for not properly auditing financial statements that were found to have inflated revenue and profits in 2019 and 2020.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
