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Aug 16, 2022 02:49 AM
FINANCE

Hong Kong Watchdog Investigates Evergrande Over Deal Audits

Evergrande defaulted in December and fell short of delivering a promised restructuring plan last month.
Evergrande defaulted in December and fell short of delivering a promised restructuring plan last month.

(Bloomberg) — Hong Kong’s Financial Reporting Council (FRC) is stepping up its investigation of audits at China Evergrande Group, the second review of the embattled developer’s books in nine months.

The watchdog is looking into Evergrande’s accounts and the audits of some transactions at the company and its subsidiary Evergrande Property Services Group Ltd., according to a statement Monday.

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