PwC China Faces Six-Month Ban Over Evergrande Audit Issues
ECONOMY & POLICY

PwC China Faces Six-Month Ban Over Evergrande Audit Issues

PwC China is facing a potential six-month business ban following issues related to its audit of the embattled property giant Evergrande. This development comes as regulatory bodies scrutinise the firm's role in the financial difficulties that have beset Evergrande, one of China's largest real estate developers.

The audit, which has been under intense scrutiny, is alleged to have failed in adequately addressing financial discrepancies and risks. Authorities are considering this ban as a means to ensure compliance and restore confidence in the auditing process.

This ban, if imposed, could significantly impact PwC China's operations and its ability to conduct business in one of the world's largest economies. It underscores the growing emphasis on stringent regulatory oversight in the auditing sector, particularly concerning high-profile and financially troubled companies.

The potential ban highlights the broader challenges facing auditing firms in managing complex corporate audits and navigating regulatory environments. PwC China has yet to comment officially on the matter as it awaits further regulatory decisions.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

PwC China is facing a potential six-month business ban following issues related to its audit of the embattled property giant Evergrande. This development comes as regulatory bodies scrutinise the firm's role in the financial difficulties that have beset Evergrande, one of China's largest real estate developers. The audit, which has been under intense scrutiny, is alleged to have failed in adequately addressing financial discrepancies and risks. Authorities are considering this ban as a means to ensure compliance and restore confidence in the auditing process. This ban, if imposed, could significantly impact PwC China's operations and its ability to conduct business in one of the world's largest economies. It underscores the growing emphasis on stringent regulatory oversight in the auditing sector, particularly concerning high-profile and financially troubled companies. The potential ban highlights the broader challenges facing auditing firms in managing complex corporate audits and navigating regulatory environments. PwC China has yet to comment officially on the matter as it awaits further regulatory decisions.

Next Story
Infrastructure Urban

PMI Electro Mobility begins e-bus rollout in Mumbai with BEST

PMI Electro Mobility has commenced the first phase of its electric bus deployment in Mumbai. On 6 September, four 12-metre e-buses were flagged off as part of a 250-bus fleet. The services will be managed by PMI’s subsidiary, Mumbadevi Mobility, in collaboration with the Brihanmumbai Electric Supply and Transport (BEST).The buses will operate from the Oshiwara Depot, strategically selected to serve high-demand routes and improve urban connectivity.Aanchal Jain, CEO of PMI Electro Mobility, said the rollout highlights Mumbai’s commitment to sustainable mobility. He added that the initiative..

Next Story
Infrastructure Urban

Vedanta invests Rs 12,500 cr to boost EV-focused metal output

Vedanta Ltd has announced an investment of over Rs 12,500 crore to ramp up metal manufacturing, focusing on the needs of India’s growing electric vehicle (EV) sector.The company’s portfolio includes aluminium, zinc, value-added alloys, copper, steel, nickel and ferrochrome. The new investments cover aluminium smelter expansion, increased production of aluminium value-added products, a zinc alloy plant, a roaster facility for zinc production, and ferrochrome capacity augmentation.Vedanta’s aluminium products, including primary foundry alloys, billets for battery casings, HVAC systems, and..

Next Story
Infrastructure Urban

India, Israel sign Rs 16k cr bilateral investment treaty

India and Israel have signed a Bilateral Investment Treaty (BIT) in New Delhi to enhance economic and financial cooperation, the Finance Ministry announced recently. The agreement was signed by Finance Minister Nirmala Sitharaman and Israel’s Finance Minister Bezalel Smotrich.Israel is the first OECD member country to sign such a treaty with India under its new investment framework. The pact will facilitate reciprocal investments, ensure transparency, protect investors from risks such as expropriation, and provide an independent arbitration mechanism for dispute resolution.The agreement is e..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?