Bank of China Ltd. has become the latest firm to drop auditor PricewaterhouseCoopers LLP, adding to an exodus of clients amid a regulatory probe into its work on trouble property giant China Evergrande Group, Reuters reported. In March, the bank revealed plans to appoint PwC as its auditor for this year, but in a recent filing said it instead plans to appoint rival Ernst & Young Global Ltd. At least 50 domestic companies have either dropped PwC or canceled plans to hire the firm in recent months.
