PwC, one of the world's biggest accounting firms, is paying HK$1.3 billion ($166 million) in fines and compensation in Hong Kong over its audit work for the failed Chinese property developer Evergrande, which was said to have overstated revenues.
Hong Kong's accounting regulator on Thursday also announced a six-month ban on PwC from working for new clients and said it had issued a public reprimand to two of its former partners for misconduct, fining each of them a separate HK$5 million.
