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china fund news reporter qiu dekun

on september 10, the reporter rongcheng certified public accountants (special general partnership) (hereinafter referred to as rongcheng)it is learned that many core members introduced into its asset management business had previously worked at pricewaterhousecoopers zhongtian llp (special general partnership) (hereinafter referred to as pricewaterhousecoopers).

public data shows that pwc has a significant advantage in the audit market of the domestic asset management industry. however, recently some funds under several well-known fund companies no longer employ it as their audit agency, triggering changes in the audit market of the domestic asset management industry.

many pwc members changed jobs

on the afternoon of september 9, rongcheng released "rongcheng huijian asset management service: team edition", which showed that with the continuous joining of 200 team members, rongcheng huijian asset management service team will become the most mature, largest, and most experienced gold medal full-time service team in the asset management industry in china with the longest average years of service.

rongcheng said that the team members have international vision, "big four" work background, and all are chinese nationals. managers and above account for more than 30%, and the team is equipped with experts in valuation and impairment, system and risk audit, accounting technology and other fields.

most of the 12 core members of rongcheng huijian’s asset management service team previously worked at pricewaterhousecoopers.

the official website of the chinese institute of certified public accountants shows that the work unit of 7 of the above 12 core personnel is still shown as pricewaterhousecoopers.

take xue jing as an example. rongcheng law firm introduced that he is currently the managing partner of the asset and wealth management industry, but the official website of the chinese institute of certified public accountants shows that he works for pricewaterhousecoopers. industry insiders pointed out that perhaps the transfer procedures of the certified public accountant have not been completed.

public information shows that xue jing previously served as the managing partner of pwc's asset and wealth management industry in asia pacific and china.

pwc previously introduced that xue jing has more than 20 years of audit and consulting experience in different types of asset management and other financial institutions. he has deep insights into the regulatory environment, back-end operations and product design of fund management companies, securities companies' asset management, trust companies, private securities and equity funds, and has provided many operational standards and precedents for the accounting theory and practice of china's asset management industry.

according to rongcheng, its asset management service team has been deeply engaged in large asset management fields such as public funds, bank wealth management, securities asset management, private securities, private equity, etc. for many years, and has more than 20 years of experience in large asset management auditing, consulting, research and other services.

rongcheng law firm introduces asset management service team

rongcheng said that its asset management service team is composed of a group of core members who were the first to serve the asset management industry, carefully accompanied the industry's growth, and gained the largest market share and best reputation in the industry.

source: rongcheng institute

rongcheng said that under the general trend of local development of large-scale asset management professional services, rongcheng has invested heavily in the field of financial professional services and has introduced the most mature and internationally-minded local asset management service team in the market.

in the audit market of the domestic asset management industry, pwc has a great advantage. according to incomplete statistics, as of the end of june, 5,440 funds in the market were audited by pwc, and pwc's market share in the industry was about 45%.

industry insiders pointed out that according to the above introduction of rongcheng, compared with pwc's business development in the domestic asset management industry, it is expected that many members of rongcheng's asset management service team will come from pwc.

in comparison, pwc has always been ranked among the top domestic accounting firms and was even known as the "number one" domestic accounting firm, while rongcheng is the only member firm of rsm, the world's sixth largest accounting network platform, in mainland china.

source: rongcheng law firm's official website

today, rongcheng is able to introduce a number of members from pwc's asset management service team mainly because pwc is involved in the "evergrande fraud" and is in deep crisis of dismissal, and its audit business in the domestic asset management industry has undergone major changes.

since june, some funds of fund companies such as e fund, huatai-pinebridge, and red soil innovation have announced that they will no longer hire pricewaterhousecoopers as their auditing agency.