Key clients desert PwC China as big four rivals circle
Cheng Leng and Chan Ho-him
Hong Kong | PwC China has been shunned by more high-profile clients in the country as the big four accounting firm braces for penalties related to its audit of distressed property developer Evergrande.
China Merchants Bank, a top retail lender, said it planned to change its accounting firm to EY from Deloitte for its 2024 onshore and offshore audit, according to an exchange filing on Monday. The appointment of Deloitte was a reversal of the bank’s decision last September to hire PwC China.
Financial Times
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