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Jan 17, 2023 01:34 PM
BUSINESS

Evergrande Says PwC Resigns After 2021 Audit Disagreements

PwC’s resignation came months after Hong Kong’s Financial Reporting Council said it is stepping up an investigation into Evergrande’s accounts and the audits of some transactions at the company and its subsidiary Evergrande Property Services Group Ltd. Photo: Bloomberg
PwC’s resignation came months after Hong Kong’s Financial Reporting Council said it is stepping up an investigation into Evergrande’s accounts and the audits of some transactions at the company and its subsidiary Evergrande Property Services Group Ltd. Photo: Bloomberg

(Bloomberg) — China Evergrande Group said PwC resigned as its auditor on Monday, adding to the pressure on the developer at the epicenter of China’s property crisis.

Evergrande’s board recommended the resignation of PwC after the two firms couldn’t “agree on the timetable and the scope of work in respect of the assessment on the group’s going concern basis,” as well as the “procedures required for the assets impairment assessment,” according to a regulatory filing.

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