News

Retail Banking

Staff Reporter

, China

Published:

2 months ago

100 views

Bank of China headquarters. (Photo by Max12Max via Wikimedia Commons. Except for cropping, no other edits were made.) License: https://creativecommons.org/licenses/by-sa/4.0/deed.en

PwC loses Bank of China as client: report

Bank of China plans to appoint EY as its auditor for 2024.

Auditor PwC has lost its largest mainland China client Bank of China to rival EY.

The China-based megabank said that it plans to appoint EY as its auditor for 2024, reports Reuters, based on a bourse filing on 19 August. The decision will be submitted for shareholder approval, the BOC said.

Bank of China (BOC) paid PwC an estimated $27m in auditing fees in 2023. This is more than the combined auditing fees from PwC's next three biggest domestically listed clients in 2023: China Life Insurance, China Telecom, and insurer PICC.

The trio have also dropped PwC as a client, according to filings.

Here’s more from Reuters.

Follow the link s for more news on

Bank of China

PwC

Also Read

Cambodia enables QR payments from foreign e-wallets through Alipay+

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit