Chinese authorities have banned the accounting firm PwC for six months and fined it over $56.4 million over its involvement in the audit of collapsed property developer Evergrande.
Tagged By finance
As Maldives Faces Debt Default, China Inks New Finance Pact. Details Here
China and Maldives have signed a new agreement today that allows Beijing to lend more financial support to the already debt-distressed nation. China’s central bank has said the pact will also help …
China, Maldives Sign Financial Cooperation Agreement
BEIJING (Reuters) – China’s central bank said on Friday it had signed a memorandum of understanding with the Maldives’s ministry of economic development and trade to establish a framework for promoting local currency settlement, currency…
Beijing bans PwC’s China unit for concealing fraud in Evergrande audit
The authorities in China have banned the accounting firm PwC for six months and fined it over 400 million yuan (€50.86m). The decision comes after regulators found PwC staff hid fraudulent practices …
U.S., EU firms lament record difficulty operating in China
China is facing a near-unprecedented swell of discontent among American and European firms in the country, as its economy slows and political tensions flare, multiple surveys showed this week.
China’s ‘conscientious economist’ goes viral by speaking the truth
Straightforward and critical remarks by Northeast Securities’ chief economist Fu Peng on China’s economy have gone viral on Chinese social media.
China’s ‘conscientious economist’ goes viral by speaking the truth
Straightforward and critical remarks by Northeast Securities’ chief economist Fu Peng on China’s economy have gone viral on Chinese social media.
US Navy Seal unit training to help Taiwan in case of China invasion
The United States’ elite Seal Team 6 has been training for missions to assist Taiwan if it is invaded by China, according to the Financial Times. The clandestine US Navy commando unit, known globally for…
China hands PwC a 6-month ban and fine over audit of the collapsed developer Evergrande
Chinese authorities have banned the accounting firm PwC for six months and fined it over $56 million for its involvement in the audit of collapsed local property developer Evergrande.
China signs finance cooperation agreement with debt distressed Maldives
BEIJING – China’s central bank on Friday said it had signed an agreement with the Maldivian authorities to strengthen trade and investment, as the debt-distressed Indian Ocean nation strives to avoid …
Wall Street wins in GOP stalemate on China
Corporate America is facing growing pressure from the right to cut ties with China, but a Capitol Hill stalemate between GOP China hawks and Wall Street-friendly Republicans is sparing industry from feeling more pain.
Beijing suspends PwC’s China unit for six months over Evergrande audit
China’s Ministry of Finance (MOF) on Friday imposed a six-month business suspension on PwC’s auditing unit in mainland China over its audit of troubled property developer China Evergrande Group, the …
China slaps PwC with record US$62.2 million fine, 6-month ban for Evergrande audit failures
Beijing wants to send a strong message to auditors about their role as gatekeeper, Hong Kong lawmaker Edmund Wong says.
