China, huge fine to Pwc and stop activities for Evergrande audit
Chinese authorities have suspended operations Pwc in the country for six months and they gave her a $62 million fine for his role in the massive financial fraud committed by China Evergrande Grouponce China’s top real estate developer in liquidation and accused of fraud.
The fine, issued by the Ministry of Finance and the China Securities Regulatory Commissionis the highest tax imposed by the office. And it is also the maximum amount that the regulator can fine an auditor.
Pwc “he knew that Evergrande Real Estate had committed material inaccuracies in its financial statements for the years 2018 to 2020,” the Finance Ministry said in a statement, adding that the auditor “failed to report them, issuing an inappropriate audit opinion and a falsified audit report.”
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