PWC resigns as auditor of China Evergrande Group

The China Evergrande Group said PWC had resigned as its auditor yesterday, adding to the pressure on the developer at the centre of the country’s property crisis.

Evergrande’s board said the resignation of PWC came after the two companies were unable to “agree on the timetable and the scope of work in respect of the assessment on the group’s going concern basis”.

In Pwc’s resignation letter it said it still had not received information relating to “significant matters” of the 2021 audit.

This included cash flow forecasts, the proposed net value of the group’s properties under construction and even the consolidated financial statements of the group, the filing said.