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Organization

Ministry of Finance of China

Chinese government ministry that oversees the accounting profession and sanctions audit firms.

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Wikidata
Q832407

Connections 2

sanctioned

  • PwC Zhong Tian 13 Sep 2024 six-month business suspension Scholarship & press 12
  • PwC Zhong Tian 13 Sep 2024 fine of 116 million yuan (about $16 million) Scholarship & press 12
Timeline 2 dates
  1. 13 Sep 2024 PwC Zhong Tian sanctioned by Ministry of Finance of China
  2. 13 Sep 2024 PwC Zhong Tian sanctioned by Ministry of Finance of China
Proof 2 sources
  1. China fines PwC $62 million for its role in the Evergrande collapse, CNN, 13 Sep 2024. Scholarship & press
    The six-month business suspension was imposed by China’s Ministry of Finance.
    The ministry also imposed a fine of 116 million yuan ($16 million) on PwC Zhong Tian for its auditing failure of Hengda in 2018, according to an MOF statement.
  2. China levies record penalty on PwC over Evergrande fraud, Accounting Today (Bloomberg), 13 Sep 2024. Scholarship & press
    China suspended the operations of PricewaterhouseCoopers LLP for six months and imposed a record penalty over lapses in its auditing of China Evergrande Group.
    The Ministry of Finance imposed a 116 million yuan penalty.
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