AsianFin--Country Garden Holdings announced on Thursday that PricewaterhouseCoopers (PwC) has resigned as its auditor, following the property developer's recommendation. This decision makes Country Garden the latest Chinese company to cut ties with the embattled auditing firm.

PwC has been under scrutiny for its role in auditing China Evergrande Group, which was accused of a $78 billion fraud in March. The fallout has led to an exodus of clients, cost-cutting measures, and layoffs at PwC.

Country Garden has appointed Hong Kong-based Zhonghui Anda CPA as its new auditor, at least until the conclusion of its next annual general meeting, according to the company's statement.

"PwC is unable to meet the company's timetable for publishing the audited consolidated financial statements for the year ending December 31, 2023, in light of recent developments," Country Garden said in a stock exchange filing.