HK’s AFRC Says Allegations Against PwC in Letter Not Supported

Hong Kong’s audit regulator said it found no supporting evidence for some of the allegations made against PricewaterhouseCoopers LLP in an anonymous whistleblower letter that circulated on social media in April.

The Accounting and Financial Reporting Council said that it found no support for the claims the firm had failed to establish effective quality controls, failed to adhere to professional standards in its client relationship with China Evergrande Group and failed to assign appropriate personnel to key positions, according to a statement Wednesday.

The auditing watchdog said that it’s still carrying out a separate investigation into the audits carried out ...