PwC Lost Big China Clients After Evergrande-Linked Probe (2)

PricewaterhouseCoopers LLP lost a handful of Chinese clients in May alone, adding to a list of more than a dozen firms its stopped auditing in the country in the last two years.

China Taiping Insurance Holdings Co. said on May 27 it appointed KPMG as its auditor for 2024 after PwC retired, just as China Merchants Bank Co. replaced it with Ernst & Young. China Railway Group, China Electronics Huada Technology Co. and People’s Insurance Company (Group) of China Ltd. are among the others that changed auditors.

The latest business losses underscore the challenges for PwC as regulators examine its ...