PwC’s Chinese arm, battered from a $62 million penalty for its botched audits of developer Evergrande, struggled to meet basic US auditing requirements including testing property and equipment values and conflict of interest rules.
Public Company Accounting Oversight Board inspectors found fault with each of the seven PricewaterhouseCoopers Zhong Tian LLP audits they reviewed last year, according to results the regulator released on Wednesday.
The Shanghai-based firm is the latest Chinese auditor to undergo scrutiny from the US regulator after a 2022 deal with Beijing that made audit staff and their internal work papers available to the US audit regulator ...
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