HONG KONG -- Chinese authorities on Friday hit PwC with a six-month suspension on the mainland and millions of dollars in fines for the auditor's work on defaulted property developer China Evergrande Group.
The Ministry of Finance made the announcement in the afternoon, citing PwC's Evergrande auditing from 2018 to 2020. Regulators fined PwC a total of 441 million yuan ($62.1 million). Out of that, the China Securities Regulatory Commission imposed a 325 million yuan penalty, while the ministry levied a fine of 116 million yuan.
