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****CHINA WEIGHS RECORD FINE FOR PWC OVER EVERGRANDE AUDITING WORK*** The real culprits here are Xi Jinping and the CCP's idiotic economic policies. When you run a nation prison, stupid is never enough. @PwC just ignored the obvious.
BREAKING 🚨: PricewaterhouseCooper China 🇨🇳 likely to impose the largest fine in history against an accounting firm of at least $138 million against PwC due to their failure to catch the largest financial fraud in history at Evergrande https://t.co/RgiR3mf7aS
China is poised to slap a record fine on PwC and suspend some of its local operations over its role in Evergrande's alleged financial fraud case, per Bloomberg.
PwC faces regulatory scrutiny in China over its auditing of China Evergrande, accused of overstating revenue by nearly $78 billion. China may fine PwC at least 1 billion yuan and halt its operations for financial fraud. Clients are concerned about PwC's future in China amid potential penalties and leadership changes.
