Challenges and Repercussions of PwC's Evergrande Audit

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The chapter delves into PwC's audit of Evergrande, a Chinese property developer, and the allegations of negligence by Chinese authorities for missing accounting irregularities. It discusses potential sanctions on PwC, including fines and office suspensions, as well as the impact on the firm's reputation and client partnerships.

UK deputy prime minister Oliver Dowden went on a secret trip to the UAE, PwC is bracing for penalties over its audit of collapsed Chinese property developer Evergrande, and traders are anticipating huge swings in Nvidia shares after the company reports earnings on Wednesday.

Mentioned in this podcast:

UK launches charm offensive with UAE after relations sour

PwC partners brace for Chinese punishment over Evergrande audit

Traders brace for big swings in Nvidia shares

EU trade deficit with China shrinks to lowest level since 2021

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

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