Auditors

[winston]

Property Developer Meltdown in China
Red-hot risk now expanding to Western auditors, shadow banks, and Beijing itself

by Anders Corr

The Financial Times revealed that the West’s Big Four accounting firms are abandoning many of their long-prized Chinese property developer clients due to the latter’s failure to file audited annual financial results by the deadline.

PwC, a Big Four accounting firm, is currently under investigation by Hong Kong authorities for its Evergrande audit. PwC and Deloitte, both headquartered in London, have resigned over the last three months as the auditors for, at minimum, five developers from China.

Source: Epoch Times

https://www.theepochtimes.com/property- ... Yn1%2Bo%3D

[behappyalways]

"Simply Outrageous": Ernst & Young Fined Record $100 Million After SEC Finds Auditors Cheating On CPA Exams For "Several Years"
https://www.zerohedge.com/markets/simpl ... ditors-had

[winston]

China audits littered with deficiencies, US accounting watchdog finds

A US accounting watchdog found unacceptable deficiencies in audits of US-listed Chinese companies performed by KPMG in China and PricewaterhouseCoopers in Hong Kong.

The deficiencies were so great that auditors failed to obtain enough evidence to substantiate companies’ financial statements.

The firms, two of the so-called “Big Four” in global accounting, represent 40 per cent of the market share of US-listed companies audited by Hong Kong and mainland China firms.

Source: Reuters

https://www.businesstimes.com.sg/compan ... hdog-finds

[behappyalways]

Hindenburg Founder Warned Deloitte 11 Times In 5 Months About Tingo's "Massive Fraud" Before SEC, DOJ Action
https://www.zerohedge.com/markets/hinde ... oj-stepped

[behappyalways]

A letter signed by "some (unnamed) PwC partners" against Raymund Chao, the Great China leader of the PricewaterhouseCoopers (PwC), on what it describes as questionable conduct on PwC's work for failed property giant Evergrande, is circulating widely.
https://twitter.com/ZichenWanghere/stat ... 2908585266