PwC unit suspended for six months in mainland China over Evergrande audit

HONG KONG/BEIJING (Reuters) – China’s Ministry of Finance (MOF) on Friday imposed a six-month business suspension on PwC’s auditing unit in mainland China over the auditing of Evergrande, the regulator said.

The ministry also imposed a fine of 116 million yuan ($16 million) on PwC Zhong Tian LLP, the registered accounting entity and the main onshore arm of PwC in China, according to a statement on the MOF website.

China’s securities regulator said in a separate statement that it confiscated the unit’s revenue involved in the Evergrande case totalling 27.7 million yuan and fined the unit 297 million yuan. 

($1 = 7.0942 Chinese yuan renminbi)

(This story has been refiled to fix a typo in the headline)

(Reporting buy Beijing newsroom; Editing by Mark Potter)