Reuters
China urges state firms to drop Big Four auditors – Bloomberg
China’s Ministry of Finance is among government entities that gave informal guidance to some state-owned enterprises as recently as last month, urging them to let contracts with PwC, EY, KPMG and Deloitte expire, the report said, quoting people familiar with the matter. While offshore subsidiaries can use the global auditors, their parent firms were urged to hire local Chinese or Hong Kong accountants when contracts come up for renewal, one of the people told Bloomberg.