The liquidators of now-collapsed Chinese property group Evergrande are preparing to sue PwC for alleged negligence in its audit work for the firm, as reported by the Australian Financial Review.
PwC served as Evergrande's auditor from the firm's listing in 2009 until 2023. In that time, it signed off on Evergrande's books even as the developer became heavily leveraged to fuel its growth. According to people with knowledge of the situation, liquidator Alvarez & Marsal is "taking steps to protect [their ability to bring] legal claims against auditors."
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion