FRC to Investigate Accounts and Audits of China Evergrande and Evergrande Property Services in respect of Certain Transactions

15 Aug, 2022

Evergrande Property Services Group Limited (Evergrande Property Services)

The FRC has initiated:

(1) An enquiry into the financial statements of Evergrande Property Services for both the year ended 31 December 2020 (Evergrande Property Services 2020 Annual Accounts) and the six months ended 30 June 2021; and

(2) An investigation of the audit carried out by PricewaterhouseCoopers (PwC) on the Evergrande Property Services 2020 Annual Accounts.

China Evergrande Group (China Evergrande)

The FRC has extended the scope of:

(3) An existing enquiry into the financial statements of China Evergrande for both the year ended 31 December 2020 (China Evergrande 2020 Annual Accounts) and the six months ended 30 June 2021; and

(4) An existing investigation of the audit carried out by PwC on the China Evergrande 2020 Annual Accounts.

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