Property Developers Delay the Release of Their Financial Results - The Auditors Resign

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Property developers have been delaying the release of their financial results, and as a result, many of their accountants have resigned. One big four accounting firm, p w c, resigned as auditor of a big developer called shima after it couldn't get information on a particular financing that shume had been using. There's a lot of legal risk building for anyone involved in this sector, given defaults or international vessels so far haven't taken legal action but we've seen them move closer to legal action than ever before.

EU prepares more sanctions against Russia after apparent atrocities near Kyiv, French president Emmanuel Macron has warned his supporters not to assume that he will win a second term in this month’s election, and international auditors are resigning from China’s heavily indebted property developers.

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Mentioned in this podcast:

EU prepares more sanctions against Russia after apparent atrocities near Kyiv

Big Four under growing pressure as Chinese developers delay audits

France votes: Macron’s frontrunner status conceals deep rifts in society

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