September 25, 2024
An Ernst & Young (EY) office in western India, which employed a 26-year-old who allegedly died after facing a high workload, has operated since 2007 without a state permit which regulates work hours, a senior government official told Reuters. EY …
September 17, 2024
The focus of a lengthy probe into PricewaterhouseCoopers LLP’s China business now shifts to Hong Kong after the accounting firm was hit with a record fine in the mainland over its audit of failed developer China Evergrande Group. Hong Kong’s …
September 13, 2024
Chinese regulators on Friday hit PwC’s auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm’s audit of troubled property developer China Evergrande Group. Delivering a strong …
August 15, 2024
Ernst & Young (EY) and KPMG have snapped up over half of PwC’s corporate clients in China that have fled the market’s leading accounting firm as it faces a regulatory probe, filings show. Chinese authorities have been investigating PwC’s role …
August 7, 2024
China Evergrande Group’s liquidators have launched court proceedings against PricewaterhouseCoopers LLP, another legal step to recover at least a fraction of creditors’ investments from the property giant. Lawyers of liquidators have started legal actions against PwC and PricewaterhouseCoopers Zhong Tian …
August 5, 2024
Chinese regulators have in recent months asked several large state-owned clients of PricewaterhouseCoopers (PwC) to drop the auditor as it braces for penalties over its work for troubled property developer Evergrande, said two sources. The regulators, mainly the Ministry of …
July 16, 2024
PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken business prospects. The move follows Chinese regulators’ …
July 10, 2024
PricewaterhouseCoopers LLP is cutting staff across its China operations, according to people familiar with the matter, after an exodus of corporate clients diminished the accounting firm’s revenue prospects in the country. At least 100 staffers from different teams at PwC …
June 14, 2024
Lawyers appointed by the liquidators of China Evergrande Group 3333.HK are investigating some of the property developer’s service providers including its former auditor PricewaterhouseCoopers, to potentially recoup losses for creditors, three sources said. Evergrande, once China’s largest property developer, was …
May 30, 2024
China is poised to impose a record fine on PricewaterhouseCoopers LLP and suspend some of the global auditor’s local operations over its role in one of the nation’s biggest alleged financial fraud cases, according to people familiar with the matter. …