Accounting giant PwC loses major Chinese client as others exit

Capt. John

CHINA Cinda Asset Management is the most recent company to terminate its contract with accounting giant PwC, following five other major firms who have cut ties with the company amid growing concerns about alleged financial fraud tied to China Evergrande, reports Hong Kong’s South China Morning Post. The China Cinda has replaced PwC’s services with those of fellow ‘big four’ accounting firm EY for 2024, the asset manager said in a stock exchange filing. The decision was made to ‘practice sound...

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