Auditor drama casts unflattering light on Lufax at already-difficult time
The online loan facilitator moved to fire PwC after the accountant raised a red flag over some related-party transactions Key Takeaways: Lufax’s board has proposed terminating PwC as its external…
CICC Probed by Regulator, and Huawei Trials New Harmony OS
CICC has been fined for its lax due diligence with IPO candidate S2C. And Huawei beta tests the latest rendition of its Harmony smartphone operating system. By Doug Young &…
BRIEF: Hong Kong High Court appoints PwC to liquidate Dafa Properties
Dafa Properties Group Ltd. (6111.HK) said on Friday that, in response to an application by the company's provisional liquidator, the Hong Kong High Court appointed Jong Yat Kit and So…
PODCAST: PwC Takes China Hit, and EV Battery Firm Finds New Life in India
PwC has received a record fine in China for lapses in its audits of failed developer Evergrande. Is this the end of the road for PwC in China? And EV battery system maker Octillion finds new life in India after its biggest China customer hits the skids. Is this the road to the future for Chinese EV component makers?
PwC looks for way forward in increasingly difficult China terrain
The Big Four accounting firm was hit with a record fine for its auditing work of Evergrande, whose failure cost investors billions of dollars Key Takeaways: China levied a record…
BRIEF: Country Garden’s sales plunge 57%, auditor resigns
Country Garden Holdings (2007.HK) disclosed on Thursday that its monthly contracted sales for August declined 57% year-on-year to 3.43 billion yuan ($483 million), with a gross floor area of about…
PODCAST: A Microchip Mega-Fund, and an Accounting Crisis
China has set up a $50 billion fund to support its microchip sector. Will the big bucks be enough to overcome U.S. sanctions? And a growing number of Chinese companies dump PwC as their auditor. Is the flight related to PwC's role as auditor for insolvent developer Evergrande?
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