10/7/2024, 8:39:03 pm

China’s finance ministry dials up scrutiny for audit firms

China's Ministry of Finance is intensifying scrutiny of audits by the Big Four firms (Deloitte, EY, PwC, KPMG) for local companies, particularly those in the financial and property sectors, amid concerns about corporate wrongdoing. The ministry is seeking more documents and has increased queries, focusing on small lenders, asset management companies, and highly leveraged state-owned enterprises.