Market Chatter: Chinese Securities Watchdog Fines PwC's Unit 441 Million Yuan For Auditing on Evergrande Unit

MT Newswires Live

Sep 16, 2024

The China Securities Regulatory Commission imposed a 441 million yuan fine and a six-month suspension on PwC's Chinese unit for its audit of China Evergrande Group (HKG:3333), Reuters reported Sept. 13.

The securities regulator said PwC Zhong Tian turned "a blind eye" on Evergrande's fraud while auditing the 2019 and 2020 annual results of the troubled property developer's subsidiary, Hengda Real Estate, according to the report.

In response, the auditing company said it would address the shortcomings it committed to and strengthen how the company operates moving forward, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. 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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1555","symbol_name":"内房股","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2467938861","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2467938861","pubTimestamp":1726461128,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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