Highlights of the past fortnight include: Canadian insurer hires former Ping An co-chief, ex-ICBC anti-graft boss pleads guilty to accepting bribes

‘Big Four’ auditor’s Chinese mainland affiliate was hit with a record penalty for its accounting of the embattled developer’s major subsidiary

The accounting firm is likely to face heavy penalties for its auditing work for a major subsidiary of fallen real estate giant Evergrande

Bank of China switches to EY as growing list of Chinese companies sever ties with PwC

The global auditor’s Chinese mainland arm has been in the spotlight for its role in the property giant’s accounting

Claims against the ‘Big Four’ accounting firm include failing to adhere to professional standards in its client relationship with embattled developer Evergrande

China Taiping Insurance says it has replaced the firm as its auditor for 2024, following China Merchants Bank and three other Chinese companies

‘Whistleblower report’ alleged deficiencies in PwC systems of quality management in Evergrande audit

Sales of personal luxury goods rebounded to $69 billion last year and may double by 2030 to account for 25% of the global market

The penalties are among the highest the PCAOB has ever imposed on any auditor and the first given to the Chinese arm of one of the ‘Big Four’ global accounting firms

In its Jan. 16 resignation letter to the embattled Chinese property firm, the auditing giant noted it still hadn’t received information relating to ‘significant matters’ of the audit

Sunac and three other builders blame Covid, though industry insiders say such hold-ups usually result from disagreements with auditors

Facing headwinds for foreign share sales, the sector focused fundraising on the mainland in the 2021 second half and will probably continue doing so in 2022, consulting group finds

Preliminary finding by PricewaterhouseCoopers may be that the troubled developer has enough assets to cover its debts, Caixin learned

Investigation focuses on whether 2020 reporting on operating risks facing the Chinese property giant was inadequate

Nearly three dozen of the 78 ‘TMT’ firms that listed chose to do so outside the Chinese mainland, but looming regulatory headwinds may change this trend

Extensive PowerPoint document cites cases involving 10 clients amid a long-running fight with American regulators over review of audit papers for U.S.-listed Chinese companies

E-commerce now accounts for more than a third of GDP, a fat, $5.52 trillion target for filling government coffers

Banks were the worst offenders, racking up almost 330 million yuan in fines as the government responded to criticism of lax regulations by increasing the amounts it penalized offenders

Nonbank financial institutions including payment companies will also have to comply with the proposed regulations