China Economy: PwC China Fined and Suspended Over Evergrande Failures | Vantage with Palki Sharma

China Economy: PwC China Fined and Suspended Over Evergrande Failures | Vantage with Palki Sharma

PwC's China auditing unit has been hit with a six-month suspension and a record 441 million yuan fine for its audit failures related to China Evergrande Group. Chinese regulators accused PwC of overlooking fraud in its audits of Evergrande's flagship unit, Hengda Real Estate, during 2019-2020. The suspension will impact PwC’s ability to sign off on key client documents and could result in a loss of market share in China. The penalties come amid growing scrutiny of Evergrande's financial practices. PwC’s senior partner Daniel Li has stepped down in response. Palki Sharma tells you more.

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PwC | Evergrande | China | Property Developer | Fraud Accusation | China Economy | Firstpost | World News | Vantage | Palki Sharma

#pwc #evergrande #china #propertydeveloper #fraudaccusation #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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