China's Finance Ministry has announced a six-month suspension of PwC's operations within the country. This decision comes as a result of PwC's involvement in auditing the financially troubled property developer, China Evergrande Group. Additionally, PwC Zhong Tian LLP, PwC's main onshore accounting entity in China, has been fined 116 million yuan (approximately $16.3 million).
This action underscores China's stringent regulatory measures towards financial auditing firms associated with unstable enterprises. The suspension will temporarily halt PwC's business activities in the Chinese market, reflecting the government's commitment to maintaining financial integrity and stability.
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China suspends PwC operation for 6 months over Evergrande audit
cgtn.com
