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Top related persons:
Hui Ka - 1 Evergrande - 1
Top related locs:
Nanchuan Xining Qinghai province China Hong Kong
Top related orgs:
China - 1 China Securities Regulatory Commission - 1 Evergrande - 1 Hui Ka Yan - 1 PricewaterhouseCoopers LLP - 1 Bloomberg - 1

Search resuls for: "PricewaterhouseCoopers LLP"


8 mentions found


☆ China fines Evergrande's Hengda $577 million for fraudulent bond issuance
  + stars: | 2024-05-31 | by ( ) www.cnbc.com   time to read: +1 min
An aerial view of construction sites and new residential developments in the Nanchuan area of Xining, Qinghai province, China. China has fined China Evergrande's onshore flagship unit 4.18 billion yuan ($577 million) for fraudulent bond issuance and illegal information disclosure, the China Securities Regulatory Commission (CSRC) said on Friday. The regulator also fined Evergrande founder Hui Ka Yan 47 million yuan and barred him from the securities market for life, according to a statement. "The maximum fine (against Hengda) is the most severe since the unified law enforcement of the bond market," said CSRC, adding it had considered Hengda's bond issuance size and mandate to complete home constructions for buyers when making the decision. China is weighing imposing a record fine of at least 1 billion yuan on PricewaterhouseCoopers LLP and suspending some of the auditor's local operations over its role in auditing Evergrande, Bloomberg News reported on Thursday.
Persons: Hui Ka, Evergrande Organizations: China, China Securities Regulatory Commission, Evergrande, Hui Ka Yan, PricewaterhouseCoopers LLP, Bloomberg Locations: Nanchuan, Xining, Qinghai province, China, Hong Kong
☆ PricewaterhouseCoopers to Pour $1 Billion Into Generative AI
  + stars: | 2023-04-26 | by ( Angus Loten | ) www.wsj.com   time to read: 1 min
In addition to embedding generative AI in its own operations, PwC hopes to advise other companies on how to use the technology. Photo: Leon Neal/Getty ImagesPricewaterhouseCoopers LLP plans to invest $1 billion in generative artificial intelligence technology in its U.S. operations over the next three years, working with Microsoft Corp. and ChatGPT-maker OpenAI to automate aspects of its tax, audit and consulting services. The accounting and consulting giant said the multiyear investment, announced Wednesday, includes funding to recruit more AI workers and train existing staff in AI capabilities, while targeting AI software makers for potential acquisitions.
☆ Ginni Rometty Learned How to Use ‘Good Power’
  + stars: | 2023-02-28 | by ( Emily Bobrow | ) www.wsj.com   time to read: +1 min
Virginia “Ginni” Rometty emerged as a strong contender to run International Business Machines Corp. after she successfully led the company’s merger with PricewaterhouseCoopers LLP’s consulting arm in 2003. When months went by without hitting her profit targets, Ms. Rometty knew she needed to turn things around. What didn’t help, she says, was hearing from a superior that if she failed she was “no longer a welcome member of the family.”“Some of the biggest lessons I learned about power were about how not to lead,” Ms. Rometty, 65, said over video from her home in Naples, Fla. Since retiring as IBM’s chairman and CEO in 2020, after nearly a decade in the job and a lifetime at the company, she says she has been thinking a lot about how power is wielded and abused. “Given the many negative stories about leaders in politics and business, people now associate power with fear, with being uncomfortable,” she says.
☆ Tax Season Is Coming, and These Firms Can’t Find Enough Accountants in the U.S.
  + stars: | 2023-01-18 | by ( Lindsay Ellis | Photographs Levi Mandel For The Wall Street Journal | ) www.wsj.com   time to read: 1 min
A national shortage of accountants is prompting small and midsize firms to hire overseas for the first time as they seek workers to audit U.S. companies’ books and prepare Americans’ tax returns. Large firms such as KPMG LLP and PricewaterhouseCoopers LLP have long hired international accountants to support client work. Now, with tax season poised to kick off, small and midsize accounting outfits that serve family businesses, individuals and smaller companies say they are offshoring jobs as local recruiting pipelines dry up and accountants leave the profession in droves.
☆ U.S. watchdog levies $7.7 mln in fines against KPMG entities
  + stars: | 2022-12-07 | by ( Chris Prentice | ) www.reuters.com   time to read: +1 min
Dec 6 (Reuters) - A U.S. agency tasked with overseeing the audits of public companies on Tuesday said it imposed $7.7 million in fines and sanctioned three firms across KPMG's global network for violations of professional auditing standards, quality control standards and other rules. The companies are all member firms of KPMG, known as one of the "Big Four" accounting firms, which also include Deloitte & Touche LLP, Ernst & Young LLP and PricewaterhouseCoopers LLP. Larry Bradley, global head of audit at KPMG, acknowledged the PCAOB's findings and said the firm "remains committed globally to the highest standards of quality and integrity." The PCAOB also barred or suspended four KPMG auditors from participating in public company audits. Reporting by Chris Prentice; editing by Jonathan Oatis, Aurora Ellis and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
☆ Job Postings With Broad Pay Ranges Leave Applicants Guessing in NYC
  + stars: | 2022-11-07 | by ( Theo Francis | Chip Cutter | ) www.wsj.com   time to read: 1 min
As companies publish pay details for job openings under new laws in New York City, some are listing maximum pay figures that are more than double the minimum pay for the job, stretching salary ranges to hundreds of thousands of dollars for certain careers. A trauma surgeon in the Mount Sinai Health System could earn anywhere from $384,000 to $800,000 or more, the hospital’s job ads say. A tax executive at PricewaterhouseCoopers LLP could make $158,400—or nearly triple that. At AT&T Inc., a principal cloud architect could be paid $206,000 or $103,000.
☆ Mattel to Pay $3.5 Million to Settle SEC Allegations Over Misstatements
  + stars: | 2022-10-21 | by ( Mark Maurer | ) www.wsj.com   time to read: +3 min
The Securities and Exchange Commission said Mattel Inc. agreed to pay $3.5 million to settle claims over misstatements the toy maker made in its 2017 financial statements. Mr. Abrahams, the lead auditor on the PwC account at the time of the alleged misstatements, failed to verify the uncorrected $109 million error was documented even though he knew about it, the SEC said. Mr. Abrahams worked at PwC from 2004 until 2019, when he resigned. Mattel didn’t admit to or deny the SEC’s claims when it agreed to pay the fine. Mr. Abrahams and Mr. Euteneuer didn’t immediately respond to requests for comment.
☆ Toymaker Mattel agrees to pay $3.5 million to settle SEC charges
  + stars: | 2022-10-21 | by ( Chris Prentice | ) www.reuters.com   time to read: +2 min
WASHINGTON, Oct 21 (Reuters) - California-based Toymaker Mattel Inc (MAT.O) has agreed to pay $3.5 million to settle U.S. Securities and Exchange Commission (SEC) charges over financial misstatements in 2017, the agency said on Friday. Mattel, which makes Barbie and Fisher-Price toys, incorrectly reported its losses during the third and fourth quarters of 2017 due to tax reporting errors, the SEC said. The issue went uncorrected until November 2019 and the lack of internal control for financial reporting related to the error remained undisclosed. A spokesperson for Mattel, which did not admit or deny the SEC's findings, said the firm is pleased to have the matter behind it. He further failed to maintain auditor independence by advising Mattel's then-chief financial officer about who should be selected for a senior position at the company.
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