Property News · February 16, 2022

Evergrande crisis: auditor resignations trigger alarm bells amid hidden debt at Chinese property developers


A spate of auditor resignations at Chinese property companies is reigniting concerns about financial transparency in an industry facing a credit squeeze and more than US$60 billion of bond redemptions this year.PwC quit its role at Hopson Development on January 27, citing inadequate access to necessary information, while Deloitte stepped down at China Aoyuan a day earlier, exchange filings showed. Shimao Group’s mainland unit will change its auditor, Shanghai Certified Public Accountant, for…

Source : South China Morning Post
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