PwC Fined Over Evergrande Audit

The penalty follows a probe by the Securities and Futures Commission into serious breaches of professional duties by PwC partners.

The regulator has mandated that the fine be used to compensate minority shareholders who suffered losses following Evergrande's liquidation.

Two former PwC partners have also been sanctioned as part of the settlement.

This disciplinary action marks a significant escalation in the global oversight of the 'Big Four' accounting firms following major corporate failures.