audit industry and market supervision: reflections on the evergrande incident

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legal and regulatory constraints and mechanisms

first, as an auditing agency, pwc is subject to the regulations of the securities law of the people's republic of china and the certified public accountants law of the people's republic of china, and its illegal acts will be held accountable by law. the china securities regulatory commission will hold the illegal acts accountable in accordance with the law and bring them under its regulatory scope. at the same time, it will also support the ministry of finance in imposing a "qualification penalty" on pwc and suspending its securities service business.

collaborative work and cross-border law enforcement

evergrande real estate's illegal activities involved domestic and overseas markets. the csrc will maintain close communication with the ministry of finance in the investigation and handling of the case, and jointly promote the investigation and handling of the case. at the same time, in accordance with the laws and regulations of hong kong, the csrc will also actively cooperate with relevant hong kong regulatory agencies to conduct an independent investigation into evergrande group's auditing agency.

market sentiment and accountability

this incident has aroused widespread concern in the market, and people have become curious and concerned about the illegal acts of evergrande group and the auditing agency and their accountability. however, we must emphasize that the securities market is centered on information disclosure, and the auditing agency is a key role with great responsibilities and needs to maintain an objective and fair position.

social responsibility and industry self-discipline

the evergrande incident has also triggered people's reflection on the audit industry and market supervision. audit institutions need to take greater responsibility and pay more attention to their own professionalism, self-discipline and integrity. at the same time, regulatory authorities need to strengthen supervision and continuously improve laws and regulations to provide investors with a safer and more reliable information environment and maintain a fair and just market order.

future outlook and industry development

in recent years, the securities market has flourished, and audit institutions have also faced more challenges. as the market scale expands and risks increase, audit institutions need to strengthen their own construction, improve their professional capabilities and service quality, and actively cooperate with regulatory authorities to maintain the healthy development of the market.