Aug. 15, 2024
EY, KPMG Benefit From PwC China's Regulatory Woes
TMTPOST--Ernst & Young (EY) and KPMG have captured more than half of PwC China's corporate clients, who have been departing the leading accounting firm amid a regulatory investigation, according to recent filings. Chinese authorities are scrutinizing PwC's involvement in auditing China Evergrande Group, following accusations from the securities regulator in March that the beleaguered property developer committed a $78-billion fraud. PwC had served as Evergrande's auditor for nearly 14 years, ending their relationship in early 2023.
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