3 stories found
PwC Hong Kong partners are reportedly set to miss out on payouts following a sanction linked to the embattled Chinese property developer Evergrande. The move highlights ongoing repercussions from the Evergrande crisis within the financial sector.
Hong Kong regulators have fined PwC $166 million for its role in auditing China Evergrande, citing failures in its oversight. The accounting firm is also expected to pay significant compensation to Evergrande shareholders.
PwC Hong Kong has been ordered to compensate Evergrande shareholders and faces additional penalties from Hong Kong authorities over its audit of the embattled property developer. This marks an unprecedented settlement related to the firm's role.