Market Chatter: PwC to Make 'Tangible Investments,' Ensure 'High-Quality' Operations in China

MT Newswires Live

Sep 17, 2024

Audit firm PricewaterhouseCoopers said it is pouring in "tangible investments" to ensure it can sustain "high-quality" China operations following a record penalty imposed by Chinese authorities, Reuters reported Monday.

The Big Four accounting firm is also setting up a "detailed remediation plan" as it navigates the ban, the report said, citing a memo by newly-appointed China chief Hemione Hudson.

China slapped PwC with a 441 million yuan fine and a six-month suspension following its audit of China Evergrande (HKG:3333), the report said.

(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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