Hong Kong Regulator Starts Probe of China Evergrande Accounting

Hong Kong regulators started a probe into struggling China Evergrande Group’s financial reports for 2020 and 2021 in an investigation that will also look at work done by PricewaterhouseCoopers.

The Financial Reporting Council initiated an inquiry into Evergrande’s 2020 annual accounts and 2021 interim report, according to an emailed statement on Friday. The Council received a complaint from a member of the public on matters related to the 2020 annual accounts and the 2020 audit.

Hong Kong’s Auditor Watchdog Says Major Improvements Are Needed

The watchdog said neither Evergrande nor PwC mentioned any “going concern material uncertainties,” ...