PWC HAS resigned as Evergrande's auditor following a series of disagreements with the heavilyindebted property developer over its audit of the firm's 2021 accounts.

In a filing to the Hong Kong stock exchange, Evergrande said its board had decided to replace PwC as the company's auditor after the two parties failed to agree a way of completing the Chinese firm's 2021 accounts audit.

PwC claimed, according to the filing, its inability to obtain sufficient "information and evidence" on various "significant matters" had prevented it from setting out a timeline on its ability to complete the audit.

The auditor pointed to Evergrande's failure to provide information on matters including the value of the developer's property portfolio, its compliance with loan agreements and the financial status of its subsidiaries, the filing said, citing PwC's letter.

(c) 2023 City A.M., source Newspaper