PwC partner exits due to crisis in Hong Kong related to Evergrande audit

From Yahoo Finance: 2025-06-03 06:30:00

PricewaterhouseCoopers (PwC) is facing a crisis in Hong Kong related to its audit of China Evergrande Group. At least ten partners are set to leave the firm, totaling 20 departures in the past six months. PwC China was fined $61.2m for its audit work on Evergrande’s inflated financial reports. Operations in China were suspended for six months, resulting in an 11% revenue decrease. PwC Hong Kong is also impacted, with key clients severing ties. The firm’s role in the Evergrande audit is under investigation, and it faces a lawsuit in Hong Kong from Evergrande’s liquidators for alleged negligence and misrepresentation.



Read more at Yahoo Finance: PwC partner exits amid repercussions from Evergrande audit