PwC Resigns as Country Garden’s Auditor Amid China Probes (1)

PricewaterhouseCoopers LLP resigned as auditor for defaulted developer Country Garden Holdings Co., as both firms navigate challenges to keep operations afloat in China.

The real estate company said PwC is unable to fulfill the timetable requirements for the company’s need to publish its overdue financial statements for 2023. PwC will be replaced by Hong Kong-based Zhonghui Anda CPA, according to a filing.

PwC is facing a six-month ban as part of punishment over its role in auditing failed developer China Evergrande Group, a person familiar said in August. If the penalty is handed down, it’s expected ...