PwC's license to operate in China was suspended for six months due to its involvement in concealing fraud at Evergrande, leading to substantial regional business losses.
Despite regional setbacks in the Asia-Pacific, including a 12.7% decline in net income due to scandals, PwC managed to achieve record-high gross revenues of $55.4 billion.
The findings from the Evergrande audit were described by PwC's global chairman as being in stark contrast to the high-quality work the firm strives to produce.
Business demand significantly declined in China, but revenues increased in India, illustrating a contrasting performance within the Asia-Pacific region.
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