Embattled property developer China Evergrande on Monday said that its current auditor, PricewaterhouseCoopers (PwC), has resigned as the parties disagreed over the timeline and scope of work surrounding the firm's status as a going concern and other audit-related matters for fiscal 2021.
The Evergrande Center of China Evergrande Group is seen amid other buildings in Shanghai, China, September 24, 2021. REUTERS/Aly Songon Monday said that its current auditor, PricewaterhouseCoopers , has resigned as the parties disagreed over the timeline and scope of work surrounding the firm's status as a going concern and other audit-related matters for fiscal 2021.
In its resignation letter, PwC noted that it had not received information on certain material matters surrounding the group's consolidated financial statements for the year 2021. PwC also flagged that the group had not settled certain interest-bearing liabilities that were due on their contractual maturity dates in 2021, adding that PwC was not provided with relevant details on the investigation conducted by an independent committee.
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