PricewaterhouseCoopers may face record fine due to Evergrande Real Estate audit issues
Hawk_Finance
2024-05-31 17:22:14
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Recently, media quoted people familiar with the matter as saying that China was considering imposing a record fine on PricewaterhouseCoopers and suspending some of its operations in China because the company was deeply involved in the huge inflated revenue of China Evergrande, China's largest financial institution. Fraud case.
People familiar with the matter said that China's Ministry of Finance may announce an administrative penalty decision on PwC as soon as this week, and the latter may face a fine of at least 1 billion yuan.
This penalty will far exceed the 212 million yuan fine China imposed on Deloitte in 2023, and is bound to set a record for a single fine issued by China to an accounting firm. People familiar with the matter said that the penalty decision has not yet been finalized and there are still variables.
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