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| HSI1 | 25,915.20 | 0.00 | -- |
| HSCEI1 | 8,732.63 | 0.00 | -- |
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PwC: Regulatory Probe Tied to Evergrande Audit Concludes; Existing Clients Unaffected
2026-04-23 17:43:09 The Accounting and Financial Reporting Council (AFRC) announced today (23rd) that, in relation to the audit of Evergrande, it has imposed a fine of HKD300 million and a six-month practice restriction on PwC. PwC responded that it received the AFRC's disciplinary decision and also reached an agreement with the Securities and Futures Commission (SFC), while neither admitting liability nor agreeing with the conclusions. PwC stated that it recognizes its performance in the Evergrande audit fell far below the high standards it has consistently upheld and the expectations of stakeholders. Resolving these regulatory matters marks an important step, and the firm is pleased that the matter has now come to a close. PwC said that PwC China has taken decisive accountability and remediation measures and implemented a comprehensive program over the past two years to enhance corporate culture, quality and governance. The business restrictions imposed by the AFRC will not affect the firm's existing clients; the restriction only prevents the firm from taking on new Hong Kong public interest entity audit clients for six months. ~ AASTOCKS Financial News Website: www.aastocks.com | |