Globally, the auditing industry faced an unprecedented scandal with PwC's involvement in the Evergrande case in China. Since March 2024, Beijing authorities have been investigating PwC's role in auditing Evergrande, following allegations of massive fraud involving tens of billions of USD. The Enron scandal previously led to the collapse of the renowned audit firm Arthur Andersen in 2001, reducing the Big 5 audit firms to the Big 4.