The focus of a prolonged investigation into PricewaterhouseCoopers (PwC) shifts to Hong Kong after the accounting firm received a record fine in China over its audit of the failed developer China Evergrande Group. Hong Kong’s Accounting and Financial Reporting Council stated that its review of PwC’s local practice is ongoing. PwC could face fines up to HKD10m (USD1.3m) in Hong Kong, where Evergrande is regulated due to its stock listing. The firm was fined CNY441m (USD62m) and suspended for six months by Chinese regulators, who revealed significant accounting fraud at Evergrande. The probes and legal actions threaten PwC’s business in Greater China, with several clients reconsidering their partnerships amid increased regulatory scrutiny.