More than 1,100 companies listed on China’s A-share market have announced changes to their 2024 annual report auditing firms, setting a record, Securities Times reports on Wednesday, citing its calculations based on annual reports.
- More than half involved accounting firms that had been penalized by regulators: report
- Six accounting firms, including Dahua and PwC, were dismissed by 603 listed companies for their 2024 annual report auditing services, with an overall client loss rate approaching 70%: report
- Local audit firms such as Rongcheng and Lixin have bucked the trend, adding over 100 new signed projects
- NOTE:
China Urges Listed Cos, Auditors ...
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