HONG KONG — Chinese authorities on Friday suspended PwC on the mainland for six months and fined the auditor millions of dollars over its work on defaulted property developer China Evergrande Group.
The Ministry of Finance made the announcement this afternoon, citing PwC's Evergrande audit from 2018 to 2020. Regulators fined PwC a total of 441 million yuan ($62.1 million). Of this, the China Securities Regulatory Commission imposed a fine of 325 million yuan, and the ministry imposed a fine of 116 million yuan.