Bullet points of China hits PwC with six month ban and large fine in record penalty over Evergrande audit

Bullet points of China hits PwC with six month ban and large fine in record penalty over Evergrande audit
- PwC's mainland China unit was suspended for six months and fined a record 441 million yuan
- Regulators found that PwC's audit work fell below standards
- PwC 'turned a blind eye' to and 'even condoned' Evergrande's fraud
- PwC's audit work was found to be 'severely unreliable'
- More than 50 Chinese firms have dropped PwC as their auditor or cancelled plans to hire it