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