# AFRC

Accounting for the Collapse: PwC’s Billion-Dollar Penance for the Evergrande Fraud

Hong Kong regulators have reached a HK$1 billion settlement with PwC over its failed audits of China Evergrande, alongside a HK$300 million fine and a six-month ban on new clients. The move highlights a coordinated effort between Hong Kong and Beijing to punish auditing negligence following Evergrande’s massive revenue inflation.