CHINESE regulators have asked several large state-owned clients of PricewaterhouseCoopers (PwC) to drop the auditor as it braces for penalties over its work for troubled property developer Evergrande, reports Reuters.
The regulators, mainly the Ministry of Finance (MOF), have given so-called 'window guidance', or unofficial, verbal instructions to big state-owned financial institutions since at least April, said the sources who declined to be identified as the information was confidential.
Bank of china (BOC), China Life Insurance, PICC, China Taiping Insurance and China Cinda Asset Management, are now among the more than 30 listed Chinese companies that have axed PwC as auditor this year, according to a Reuters calculation based on corporate filings.
SeaNews Turkey
The regulators, mainly the Ministry of Finance (MOF), have given so-called 'window guidance', or unofficial, verbal instructions to big state-owned financial institutions since at least April, said the sources who declined to be identified as the information was confidential.
Bank of china (BOC), China Life Insurance, PICC, China Taiping Insurance and China Cinda Asset Management, are now among the more than 30 listed Chinese companies that have axed PwC as auditor this year, according to a Reuters calculation based on corporate filings.
SeaNews Turkey
