Evergrande
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âĄBREAKING Evergrande: Game Over for Giants? âĄ
đą Today marks a seismic shift as the Hong Kong Government decrees the liquidation of the colossal Evergrande Group. đą
Stock markets halt, leaving investors with empty pockets. The magnitude?
A staggering $300 billion loss in mere hoursâmaking Madoff's saga seem a mere warm-up.
đ„ Brace for global ripple effects, echoing through banks, investment funds, and the financial system at large.
The impact won't stop at the demise of Evergrande but could trigger a domino effect, reaching the mighty US dollar and the Federal Reserve's printing press.
đŒ The plot thickens. Tether, tethered to the US dollar at 1:1 parity, stands as the third-largest digital asset market player.
With China steering clear of the dollar and hedge funds intertwined with spot ETFs, the intricate dance of financial giants takes a dramatic turn.
đ As I've shared before, this infographic gains newfound relevance. Stay tuned as we navigate the turbulent waters of global finance. đđ°
#Evergrande #FinancialCrisis #GlobalImpact #TradeNTell #Write2Earn $BTC $SOL $BNB
đą Today marks a seismic shift as the Hong Kong Government decrees the liquidation of the colossal Evergrande Group. đą
Stock markets halt, leaving investors with empty pockets. The magnitude?
A staggering $300 billion loss in mere hoursâmaking Madoff's saga seem a mere warm-up.
đ„ Brace for global ripple effects, echoing through banks, investment funds, and the financial system at large.
The impact won't stop at the demise of Evergrande but could trigger a domino effect, reaching the mighty US dollar and the Federal Reserve's printing press.
đŒ The plot thickens. Tether, tethered to the US dollar at 1:1 parity, stands as the third-largest digital asset market player.
With China steering clear of the dollar and hedge funds intertwined with spot ETFs, the intricate dance of financial giants takes a dramatic turn.
đ As I've shared before, this infographic gains newfound relevance. Stay tuned as we navigate the turbulent waters of global finance. đđ°
#Evergrande #FinancialCrisis #GlobalImpact #TradeNTell #Write2Earn $BTC $SOL $BNB
đš China Hits PwC Zhong Tian with Record $62.2 Million Fine and Six-Month Audit Ban! đš
In an unprecedented move, Chinaâs Ministry of Finance has slapped PwC Zhong Tian with a 441 million yuan (US$62.2 million) fine and imposed a 6-month audit ban for their failure to properly audit the troubled real estate giant, China Evergrande Group from 2018 to 2020.
PwC was found guilty of missing crucial discrepancies in Evergrandeâs financial statements, misrepresenting assets and liabilitiesâa key factor in the companyâs dramatic collapse. The China Securities Regulatory Commission (CSRC) also accused PwC of helping to conceal fraudulent activities, including failing to spot that some "completed properties" were actually just undeveloped land!
This is the harshest penalty ever imposed on an audit firm in China, underscoring the governmentâs commitment to transparency and accountability in the financial sector. With these actions, China aims to prevent future auditing failures and restore trust in its financial regulations.
What does this mean for the future of auditing in China? Stay tuned for more updates, insights, and analysis.
#PwC
#Evergrande
#ChinaRegulations
#AuditBan #Binance
$BTC
$ETH
$BNB
In an unprecedented move, Chinaâs Ministry of Finance has slapped PwC Zhong Tian with a 441 million yuan (US$62.2 million) fine and imposed a 6-month audit ban for their failure to properly audit the troubled real estate giant, China Evergrande Group from 2018 to 2020.
PwC was found guilty of missing crucial discrepancies in Evergrandeâs financial statements, misrepresenting assets and liabilitiesâa key factor in the companyâs dramatic collapse. The China Securities Regulatory Commission (CSRC) also accused PwC of helping to conceal fraudulent activities, including failing to spot that some "completed properties" were actually just undeveloped land!
This is the harshest penalty ever imposed on an audit firm in China, underscoring the governmentâs commitment to transparency and accountability in the financial sector. With these actions, China aims to prevent future auditing failures and restore trust in its financial regulations.
What does this mean for the future of auditing in China? Stay tuned for more updates, insights, and analysis.
#PwC
#Evergrande
#ChinaRegulations
#AuditBan #Binance
$BTC
$ETH
$BNB
