PwC delays payouts for departing partners in Hong Kong and China

PwC delays payouts for departing partners in Hong Kong and China

Recent retirees left waiting for equity repayment as Big Four firm grapples with audit ban after Evergrande collapse

PwC delays partner payouts in Hong Kong and China

PwC has postponed disbursing payments to former partners who recently retired in Hong Kong and mainland China, reported Financial Times.   The delay comes as the accounting major manages the financial repercussions from its audits of the collapsed Chinese property developer Evergrande.   According to four sources privy to the development, multiple equity partners who retired in recent months have yet to receive any of their contributed capital. …

PwC has postponed payments to newly retired partners in Hong Kong and mainland China while raffling the financial consequences of their role as firm auditor...