CHINA BECOMING AN TOUGHER JURISDICTION FOR MAJOR INTERNATIONA ACCOUNTANTS
August 23rd, 2024
International accounting networks are keeping a close eye on China’s lucrative audit market, which is becoming a riskier proposition as tough regulatory actions make Chinese clients less willing to choose firms with global connections over local outfits.
These pressures are rising as the Chinese government mulls regulatory action against PwC, following the January collapse of its property giant client, the China Evergrande Group. The China Securities Regulatory Commission (CSRC) in March (2024) accused Evergrande of inflating its revenue by USD78 billion, in ...
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