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China asks state firms to drop 4 biggest accounting firms: Report
short by Srishty Choudhury / on Wednesday, 22 February, 2023
Chinese authorities have asked state-owned firms to stop using the four biggest global accounting firms, namely PwC, EY, KPMG and Deloitte, prompted by data security concerns, Bloomberg cited sources as saying. While offshore subsidiaries can use global auditors, their parent firms were urged to hire local Chinese or Hong Kong accountants when contracts come up for renewal.
read more at Reuters