Evergrande

How PwC Facilitated Evergrande's Massive Fraud

How PwC Facilitated Evergrande's Massive Fraud

Chinese regulators have hit PwC China with a six-month suspension and a record 441 million yuan ($62 million) fine for audit failures related to Evergrande. Once a major player in China's property market, Evergrande defaulted and filed for bankruptcy after years of fraudulent activity overlooked by PwC. This case underscores the critical importance of auditor independence and skepticism, highlighting severe consequences when these principles are ignored.