New York/Hong Kong/Beijing | PwC China has told clients it expects Chinese authorities to hit it with a six-month business ban that will start as early as September, as part of punishment over its audit of collapsed property developer Evergrande.
The action against PwC comes after China’s securities regulator in March said Evergrande had inflated its mainland revenues by almost $US80 billion in the two years before the developer defaulted on its debts in 2021, despite PwC’s China unit giving the accounts a clean bill of health.
