Ernst & Young (EY) and KPMG have snapped up over half of PwC’s corporate clients in China that have fled the market’s leading accounting firm as it faces a regulatory probe, filings show.
Chinese authorities have been investigating PwC’s role in auditing China Evergrande Group (3333.HK), opens new tab, after the securities regulator accused the troubled property developer in March of a $78-billion fraud. PwC audited Evergrande for almost 14 years until early 2023.
Source: REUTER
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