China mulls record fine for PwC over Evergrande auditing, Bloomberg News reports

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-China is weighing a record fine for PricewaterhouseCoopers LLP and suspending some of the auditor's local operations over its role in auditing troubled property developer China Evergrande Group, Bloomberg News reported on Thursday.

PwC has been in the spotlight since a Chinese regulator earlier this year found Evergrande, once the country's biggest developer, had overstated revenue at its main unit Hengda by 564 billion yuan in the two years through 2020. Meanwhile, PwC is under a separate investigation initiated by a Hong Kong financial regulator in April, after a whistle-blower letter was circulated that raised concerns over audit deficiencies in matters including China Evergrande.

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