PwC sends UK partner to China amid Evergrande fallout

PwC has appointed Hemione Hudson, a senior British executive, to lead its operations in China amid the ongoing fallout from the audits of Evergrande, a major property developer that has collapsed. Hudson was previously considered a candidate to become PwC's UK boss earlier this year, highlighting her prominence within the firm. Her new role in China is significant, as the region represents PwC's third-largest network, employing around 20,000 individuals, following the US and UK. The decision to send Hudson to China comes as the firm faces increased scrutiny regarding its auditing practices related to Evergrande. The Chinese division is currently under the spotlight, and Hudson's leadership is seen as crucial in navigating the challenges that have arisen from the situation. Sources indicate that her assignment in China will be indefinite, with no set return date, suggesting a long-term commitment to addressing the issues at hand. The move reflects PwC's strategy to bolster its leadership in a critical market while managing the reputational risks associated with the Evergrande audits. As the firm seeks to stabilize its operations in China, Hudson's experience and expertise will be vital in restoring confidence among stakeholders and clients. Overall, this development underscores the complexities faced by global firms operating in volatile markets and the importance of strong leadership in mitigating risks and ensuring compliance with regulatory standards.