news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

on september 13, the ministry of finance and the china securities regulatory commission announced an administrative penalty decision regarding pricewaterhousecoopers zhongtian llp (special general partnership) (hereinafter referred to as pricewaterhousecoopers zhongtian)’s audit work on evergrande real estate.

pwc zhongtian quickly issued a statement in response, respecting and firmly obeying the relevant penalty decisions.

the statement mentioned that evergrande real estate's audit did not meet the high standards that the company has always adhered to and the expectations of all sectors. pwc will reflect deeply and learn lessons comprehensively. at the same time, pwc also expressed apologies and gratitude to the customers and partners who were affected by this incident and chose to support the company for a long time.

it is worth noting that the penalty announcement of the regulatory agency also included accusations and penalties against individuals, and the statement of pwc zhongtian also mentioned that "pwc's high-quality audits have a good history in china for many years. we believe that the behavior of a few members of the evergrande audit team cannot represent the more than 18,000 employees who work diligently in pwc china." it is speculated that this incident has caused corruption incidents that are common in large enterprises. further strengthening the construction of internal control and integrity systems in enterprises may be the next focus of pwc zhongtian's work.

finally, pwc has taken strong measures to hold the responsible parties accountable. not only have the punished members of the evergrande real estate audit team terminated their labor relations with the company, but also relevant members of the management team have been required to assume management responsibilities, including former members of the management team. pwc china said it is appointing a new team. a statement released on the pwc global website on the same day showed that pwc had just appointed its global chief risk and regulatory officer hemione hudson as the new ceo of china. she previously led pwc's uk audit department for five years, and during this time led the company out of the scandal of a £15 million fine imposed by the uk accounting regulator. this appointment is considered to be another effective measure taken by pwc to deal with the internal problems that have arisen in the evergrande real estate project, quickly make up for the shortcomings, and avoid systemic problems.

at the end of the statement, pwc zhongtian said that it had taken corrective measures, including increasing investment in personnel, training and technology, strengthening cultural construction and corporate governance, and made multiple commitments to improve quality. it seems that pwc has made up its mind this time, and it is estimated that pwc will strictly control quality internally in the future.