REFILE-UPDATE 1-PwC unit suspended for six months in mainland China over Evergrande audit

Reuters
2024-09-13

(Fixes typo in headline)

HONG KONG/BEIJING, Sept 13 (Reuters) - China's Ministry of Finance (MOF) on Friday imposed a six-month business suspension on PwC's auditing unit in mainland China over the auditing of Evergrande, the regulator said.

The ministry also imposed a fine of 116 million yuan ($16 million) on PwC Zhong Tian LLP, the registered accounting entity and the main onshore arm of PwC in China, according to a statement on the MOF website.

China's securities regulator said in a separate statement that it confiscated the unit's revenue involved in the Evergrande case totalling 27.7 million yuan and fined the unit 297 million yuan.

($1 = 7.0942 Chinese yuan renminbi)

(Reporting buy Beijing newsroom; Editing by Mark Potter) ((mailto:bernard.orr@thomsonreuters.com))

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