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guan leiming

technical director | java

auditing agency responsibilities and accountability: the complexity of the evergrande real estate incident

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legal responsibilities and regulatory mechanisms

the securities law clearly stipulates the legal responsibilities of audit institutions and the supervision mechanism of audit institutions, which makes the accountability process clearer. evergrande real estate's illegal behavior involves bond issuance activities, and its audit institution pricewaterhousecoopers also bears legal responsibility. the relevant documents are the subject of investigation in accordance with laws and regulations. as the leading regulatory department, the ministry of finance will implement comprehensive supervision of pricewaterhousecoopers, including checking the practice quality, project quality control, audit institution governance and personnel management of audit institutions.

cross-border law enforcement and international cooperation

evergrande group is listed in hong kong, and its auditing agency is also affected by the local laws and regulatory system in hong kong. therefore, the relevant regulatory authorities in hong kong are conducting an independent investigation and conducting an in-depth investigation into the auditing agency of evergrande group. government departments will actively cooperate with relevant parties and provide support for the investigation of illegal acts through cross-border law enforcement cooperation mechanisms and channels.

social responsibility and industry self-discipline

the evergrande real estate incident also reminds us that audit institutions must conscientiously fulfill their responsibilities and maintain market fairness and justice when performing their professional duties. at the same time, audit institutions need to strengthen their own self-discipline and actively participate in the construction of industry norms to contribute to market development.

2024-09-14