is the latest Chinese company to terminate its auditing contract with PricewaterhouseCoopers (PwC) following the auditing firm's connection to the China Evergrande Group’s financial fraud scandal.
is the latest Chinese company to terminate its auditing contract with PricewaterhouseCoopers (PwC) following the auditing firm's connection to the China Evergrande Group’s financial fraud scandal.
Evergrande, which is now under liquidation, used PwC as its auditor for 14 years between 2009 and January last year, when the pair broke their partnership. Meanwhile, PwC issued unqualified opinions on Evergrande’s annual reports from 2009 to 2020. Since the financial fraud scand...
Singaporean tycoon Ong Beng Seng is charged in connection with a bribery scandal, with that story leading today’s headline roundup. Also making news, Blackstone is said to be raising $10 billion for an Asia buyout fund and the former CEO…Read More>> ...
(Yicai) July 3 -- PricewaterhouseCoopers has replaced the former China and Asia Pacific chairman with Daniel Li after the auditing scandal of property developer China Evergrande Group. Li has assumed the positions previously held by Raymund Chao, the Chinese arm of the London-headquartered ...
SHANGHAI--Bonds and shares issued by Chinese property firms slumped on Friday as onshore markets returned from a week-long holiday with few clues as to how regulators propose to contain the contagion from cash-strapped China Evergrande Group’s debt prob
DU Liang, general manager of Evergrande Wealth admitted buying products worth 7.3 million yuan on May 25 and cashing out ahead of schedule on May 31 due to a “personal emergency.” At the time, Du assured investors that Evergrande Wealth was doing “just fine.”The scandal-plagued ...
“Counting unbuilt and unsold properties and interest payments as assets. About 60% of the firm’s assets are unbuilt and unsold properties, and the firm counts loan interest payments as assets. This inflates the firm’s position and increases risks...
September 13 2024 PwC PwC banned for 6 months in China for ‘concealing fraud’ at Evergrande Big Four firm pays $62mn fine and fires 11 staff over audit of collapsed developer September 10 2024 PwC PwC to parachute in UK partner to run scandal-hit China business ...
The detention of the EV executive has added to Evergrande’s challenges, said analysts. The company’s shares fell 9.6 per cent in trading on Monday. “Such a move is somewhat expected, but it still casts a shadow over the already slow restructuring process,” said Gary Ng, a senior econo...