Finally there is an agency to investigate Evergrande! The Hong Kong Finance and Exchange Bureau announces an investigation into the accounts and audits of China Evergrande and Evergrande Properties.
The survey included the 2020 annual accounts of China Evergrande and Evergrande Property (both audited by PwC) and the accounts for January to June 2021.
Although Evergrande Property's previous announcement explained the mystery of the "disappearance" of 13.4 billion deposits, and then replaced the president, chief financial officer and directors, it is clear that things cannot be just like this.
Note: The Financial Reporting Council (FIA) is the independent auditor regulator for listed entities in Hong Kong and is committed to maintaining the quality of financial reporting of listed entities in Hong Kong, thereby enhancing investor protection and enhancing investor confidence in corporate reporting.
