PwC to pay US$128 million to minority shareholders over Evergrande audit failures

South China Morning Post South China Morning Post —

Hong Kong’s Securities and Futures Commission (SFC) has reached an agreement with PricewaterhouseCoopers Hong Kong (PwC HK) to pay HK$1 billion (US$128 million) in compensation to minority shareholders of China Evergrande Group, following what the regulator described as serious breaches of auditors’ professional duties.
In a statement on Thursday, the SFC said it had found that Evergrande’s annual reports and results announcements for 2019 and 2020 contained materially false or misleading...

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