PwC Faces Layoffs and Regulatory Scrutiny in China After Evergrande Scandal

The accounting firm is cutting staff and losing clients as Chinese regulators intensify checks following Evergrande's financial fraud.

PwC is laying off at least 100 employees across its China operations due to declining revenue prospects.
More than 30 publicly listed companies in China have dropped PwC as their auditor this year.
Chinese regulators are conducting rigorous checks on the Big Four auditing firms, including PwC, for their role in corporate audits.
PwC may face a record fine of at least 1 billion yuan for its involvement in Evergrande's inflated revenue reporting.
The firm continues to face scrutiny and potential penalties from both Chinese and Hong Kong regulators.