HONG KONG INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS 香港會計師公會
HKICPA v Jeremy Ng Kwok Ching
HK Court of Appeal, 6-Apr-2022
Leave to appeal to the Court of Final Appeal is refused.
HK Court of Appeal, 6-Apr-2022
Leave to appeal to the Court of Final Appeal is refused.
HKICPA v Li Sau Ying
HK Court of Appeal, 4-Mar-2022
Ms Li's appeal against a disciplinary order is dismissed.
HK Court of Appeal, 4-Mar-2022
Ms Li's appeal against a disciplinary order is dismissed.
HKICPA v Jeremy Ng Kwok Ching
HK Court of Appeal, 9-Dec-2021
Mr Ng fails in his appeal against a 12-month ban and a fine of HK$50k for deficiencies in the 2014 audit of a private company, Lam Seng Hang Ltd.
HK Court of Appeal, 9-Dec-2021
Mr Ng fails in his appeal against a 12-month ban and a fine of HK$50k for deficiencies in the 2014 audit of a private company, Lam Seng Hang Ltd.
HKICPA fines Zenith CPA Ltd, Cheng Po Yuen & Keung Yee Man
| Re Leung Sze Chit
HKICPA, 2-Feb-2021
For bad work on the 2011 audit of China Health (0673). At para 45, the decision wrongly states (on HKICPA advice) that in a previous case (Leung Sze Chit, 2013) the respondent "was not reprimanded", and decides not to reprimand Ms Keung, who submitted that she was too inexperienced when she was appointed as the Engagement Quality Control Reviewer. In fact, Mr Leung was reprimanded. The committee also decries the delay in commencing proceedings (the case was referred by the AIB/FRC) and calls on the HKICPA to consider a minimum post-qualification experience requirement for ECQRs.
HKICPA, 2-Feb-2021
For bad work on the 2011 audit of China Health (0673). At para 45, the decision wrongly states (on HKICPA advice) that in a previous case (Leung Sze Chit, 2013) the respondent "was not reprimanded", and decides not to reprimand Ms Keung, who submitted that she was too inexperienced when she was appointed as the Engagement Quality Control Reviewer. In fact, Mr Leung was reprimanded. The committee also decries the delay in commencing proceedings (the case was referred by the AIB/FRC) and calls on the HKICPA to consider a minimum post-qualification experience requirement for ECQRs.
HKICPA v Jeremy Ng Kwok Ching
HK Court of Appeal, 13-Aug-2020
Mr Ng's application to adduce new evidence in his appeal against the HKICPA's disciplinary order is refused.
HK Court of Appeal, 13-Aug-2020
Mr Ng's application to adduce new evidence in his appeal against the HKICPA's disciplinary order is refused.
HKICPA bans Richard Yin Yingneng for 2 years
HKICPA, 2-May-2019
Amazingly, it was only 18 months after the SFC's announcement of the Court's findings that the HKICPA "became aware" of the wrong-doing by its members, including Kenny Lee Yiu Sun. There appears to be some sort of communications failure between the 2 regulators.
HKICPA, 2-May-2019
Amazingly, it was only 18 months after the SFC's announcement of the Court's findings that the HKICPA "became aware" of the wrong-doing by its members, including Kenny Lee Yiu Sun. There appears to be some sort of communications failure between the 2 regulators.
HKICPA v Cheung Yiu Hung: costs
HK Court of Appeal, 31-Aug-2018
Mr Cheung is ordered to pay the HKICPA costs of HK$120k for his unsuccessful appeal against sanctions.
HK Court of Appeal, 31-Aug-2018
Mr Cheung is ordered to pay the HKICPA costs of HK$120k for his unsuccessful appeal against sanctions.
HKICPA v Cheung Yiu Hung
HK Court of Appeal, 31-Jul-2018
Mr Cheung fails in his appeal against an 18 month ban.
HK Court of Appeal, 31-Jul-2018
Mr Cheung fails in his appeal against an 18 month ban.
HKICPA v X & Y
HK Court of Appeal, 20-Oct-2017
From the facts in the judgment, this case is clearly about the 2010 audit of Prosperity (0803) and the accounting for its acquisition of Prosperity Minerals Holdings Ltd, so the auditors Y, are RSM Hong Kong, and its engagement partner X. They win their appeal because the HKICPA disciplinary panel found them guilty of a charge which had not been properly put to them.
HK Court of Appeal, 20-Oct-2017
From the facts in the judgment, this case is clearly about the 2010 audit of Prosperity (0803) and the accounting for its acquisition of Prosperity Minerals Holdings Ltd, so the auditors Y, are RSM Hong Kong, and its engagement partner X. They win their appeal because the HKICPA disciplinary panel found them guilty of a charge which had not been properly put to them.
HKICPA v X & Y
HK Court of Appeal, 2-Jun-2017
The court stays the publication of decisions of a Disciplinary Committee pending the outcome of X & Y's appeal. This is despite the disciplinary hearings having been public. The court rules that the "reprimand" part of the sanction "is effectively enforced by publication" (rather than entry in the register) and that this should not happen until appeals are exhausted. In our view, the interests of open justice should outweigh this. In criminal cases, verdicts and sentences are handed down in public despite the right of appeal of defendants. What makes accountants so special? Besides, a fine is always accompanied by a reprimand, so the reprimand adds nothing. The fine won't be enforced until appeals are exhausted. In the interests of open justice, we hope that the HKICPA will appeal this ruling to the CFA.
HK Court of Appeal, 2-Jun-2017
The court stays the publication of decisions of a Disciplinary Committee pending the outcome of X & Y's appeal. This is despite the disciplinary hearings having been public. The court rules that the "reprimand" part of the sanction "is effectively enforced by publication" (rather than entry in the register) and that this should not happen until appeals are exhausted. In our view, the interests of open justice should outweigh this. In criminal cases, verdicts and sentences are handed down in public despite the right of appeal of defendants. What makes accountants so special? Besides, a fine is always accompanied by a reprimand, so the reprimand adds nothing. The fine won't be enforced until appeals are exhausted. In the interests of open justice, we hope that the HKICPA will appeal this ruling to the CFA.
HKICPA v Stephen Wong Tak Man & RSM Nelson Wheeler
HK Court of Final Appeal, 27-Apr-2017
Leave to appeal is granted. The appeal will be heard on 4-Dec-2017.
HK Court of Final Appeal, 27-Apr-2017
Leave to appeal is granted. The appeal will be heard on 4-Dec-2017.
HKICPA v Stephen Wong Tak Man & RSM Nelson Wheeler
HK Court of Appeal, 24-Oct-2016
Leave to appeal to the CFA is refused.
HK Court of Appeal, 24-Oct-2016
Leave to appeal to the CFA is refused.
HKICPA v Stephen Wong Tak Man & RSM Nelson Wheeler
HK Court of Appeal, 30-Aug-2016
This appeal reveals that the HKICPA disciplinary committee fined Stephen Wong Tak Man and RSM Nelson Wheeler HK$10k each but, amazingly, "directed that no publicity of the aforesaid sanction should be made". The court rejects their appeal. The HKICPA appealed the secrecy order, but the court held that it had no jurisdiction to hear appeals by the HKICPA, only by accountants and their firms. Anyway, now you know. The disciplinary panel is chaired by Anne Rosamunde Carver, with members Wong Yuen Chi, Terry Pan San Kong, Law Pui Cheung and Tsang Tin For.
HK Court of Appeal, 30-Aug-2016
This appeal reveals that the HKICPA disciplinary committee fined Stephen Wong Tak Man and RSM Nelson Wheeler HK$10k each but, amazingly, "directed that no publicity of the aforesaid sanction should be made". The court rejects their appeal. The HKICPA appealed the secrecy order, but the court held that it had no jurisdiction to hear appeals by the HKICPA, only by accountants and their firms. Anyway, now you know. The disciplinary panel is chaired by Anne Rosamunde Carver, with members Wong Yuen Chi, Terry Pan San Kong, Law Pui Cheung and Tsang Tin For.
Leslie Cheng, Burkes and Turks
It appears that the FRC and HKICPA, in its recent action against Leslie Cheng & Co, missed the elephant in the accounts of Luxey (8041). 6 listed companies are keeping him on board, 3 as chairman of their audit committees. And then there's his doctorate... (16-Jan-2016)
It appears that the FRC and HKICPA, in its recent action against Leslie Cheng & Co, missed the elephant in the accounts of Luxey (8041). 6 listed companies are keeping him on board, 3 as chairman of their audit committees. And then there's his doctorate... (16-Jan-2016)
Alex So Yin Wai fined HK$20k by HKICPA
HKICPA, 8-Sep-2015
For turning a blind eye to a HK$3.7m bounced check deposited on the year-end date of Crowning Engineering Ltd, an "Approved Contractor" under the HK Public Works Department. This helped dress up its working capital when applying for renewal. Mr So is an INED of Green Energy Group (0979). So far (16-Sep), that company has failed to announce the sanction as required by Listing Rule 13.51(2)(h), or why he should continue to chair its audit committee. His fee there last year was HK$120k, or 6 times the pathetic penalty meted out by the HKICPA.
HKICPA, 8-Sep-2015
For turning a blind eye to a HK$3.7m bounced check deposited on the year-end date of Crowning Engineering Ltd, an "Approved Contractor" under the HK Public Works Department. This helped dress up its working capital when applying for renewal. Mr So is an INED of Green Energy Group (0979). So far (16-Sep), that company has failed to announce the sanction as required by Listing Rule 13.51(2)(h), or why he should continue to chair its audit committee. His fee there last year was HK$120k, or 6 times the pathetic penalty meted out by the HKICPA.
Cheng & Cheng's EPS snafu
The HKICPA sanctions the audit firm and its director, but fails to disclose the listed company involved. We'll tell you who it was. (1-Sep-2015)
The HKICPA sanctions the audit firm and its director, but fails to disclose the listed company involved. We'll tell you who it was. (1-Sep-2015)
Ms Mak Wai Man fined HK$25k+costs by HKICPA for exaggerating CV
HKICPA, 31-Aug-2015
Unusually, the complaint came not from the HKICPA but from a member, Gilbert Cho Kui Keung. The media release states that the complaint was made under s34(1AAA). That's an indirect way of saying that after the Council decided not to refer the complaint to the Disciplinary Panels, he forced them to do so using this section. Well done Mr Cho and shame on the HKICPA - once again demonstrating why self-regulation doesn't work.
HKICPA, 31-Aug-2015
Unusually, the complaint came not from the HKICPA but from a member, Gilbert Cho Kui Keung. The media release states that the complaint was made under s34(1AAA). That's an indirect way of saying that after the Council decided not to refer the complaint to the Disciplinary Panels, he forced them to do so using this section. Well done Mr Cho and shame on the HKICPA - once again demonstrating why self-regulation doesn't work.
HKICPA fines Shinewing (HK) CPA Ltd and Barry Ip Yu Chak HK$35k
HKICPA, 9-Feb-2015
This relates to the 2008 audit of China Water Industry (1129) and is another joke from the HKICPA - the fine of HK$35k is about 1.4% of the HK$2.58m (including an audit fee of $930k) that the company paid Shinewing in 2008.
HKICPA, 9-Feb-2015
This relates to the 2008 audit of China Water Industry (1129) and is another joke from the HKICPA - the fine of HK$35k is about 1.4% of the HK$2.58m (including an audit fee of $930k) that the company paid Shinewing in 2008.
HKICPA fines Louis Tang Wai Hung, Chow Chi Kit & W.H. Tang & Partners CPA Ltd
HKICPA, 30-Dec-2014
This concerns Celebrate (8212), an acquisition circular and its annual audit for 30-Jun-2010. This is the 2nd sanction in a year against Mr Tang and his firm. The panel calls them "serious breaches" and fines them HK$50k each. Seriously? Another reason why the HKICPA should stop self-regulating. Celebrate paid the firm audit fees of HK$2.7m that year, so the fine is trivial. A ban on practising for a prolonged period would be more meaningful.
HKICPA, 30-Dec-2014
This concerns Celebrate (8212), an acquisition circular and its annual audit for 30-Jun-2010. This is the 2nd sanction in a year against Mr Tang and his firm. The panel calls them "serious breaches" and fines them HK$50k each. Seriously? Another reason why the HKICPA should stop self-regulating. Celebrate paid the firm audit fees of HK$2.7m that year, so the fine is trivial. A ban on practising for a prolonged period would be more meaningful.
HKICPA reprimands Wallen Wu for quoting a fee on his web site
HKICPA, 2-Dec-2013
Who knew that the HKICPA has a rule prohibiting the advertising of fees? Surely that is an anti-competitive rule. This accountant is now in trouble for breaking it, for quoting a fee on his home page for incorporating a company, something that other service providers do all the time. Bizarrely, HKICPA draws a distinction between a homepage and other pages of a web site, claiming that the home page is "analagous to a newspaper advertisement" while other pages are not. All web pages require active requests, of course.
HKICPA, 2-Dec-2013
Who knew that the HKICPA has a rule prohibiting the advertising of fees? Surely that is an anti-competitive rule. This accountant is now in trouble for breaking it, for quoting a fee on his home page for incorporating a company, something that other service providers do all the time. Bizarrely, HKICPA draws a distinction between a homepage and other pages of a web site, claiming that the home page is "analagous to a newspaper advertisement" while other pages are not. All web pages require active requests, of course.
Parker Randall's HK track record
We reveal the censored names in yesterday's HKICPA announcement, and look at the awful losses experienced by investors in the HK-listed audit clients of Parker Randall CF (H.K.) CPA Ltd. (27-Oct-2012)
We reveal the censored names in yesterday's HKICPA announcement, and look at the awful losses experienced by investors in the HK-listed audit clients of Parker Randall CF (H.K.) CPA Ltd. (27-Oct-2012)
HKICPA bans Henry Chui Che Hung for 7 years and fines him HK$50k
| Reasons
HKICPA, 31-Mar-2011
Comment: it is debatable what relevance sexual offences, however disgusting, have to one's skills as an accountant. Is it really the role of self-regulatory organisations to act as a second court, or would their time be better spent disciplining their members for bad professional work? Is it realistic for professional bodies to claim that their reputation is damaged by the behaviour of their members, thereby implying that members of such bodies are less likely than the general public to commit such offences?
HKICPA, 31-Mar-2011
Comment: it is debatable what relevance sexual offences, however disgusting, have to one's skills as an accountant. Is it really the role of self-regulatory organisations to act as a second court, or would their time be better spent disciplining their members for bad professional work? Is it realistic for professional bodies to claim that their reputation is damaged by the behaviour of their members, thereby implying that members of such bodies are less likely than the general public to commit such offences?
Johnny Chan Kin Hang suspended by HKICPA for 15 months
HK Gazette, 14-May-2010
In relation to the audit of an unnamed listed company. Anyone know which one?
HK Gazette, 14-May-2010
In relation to the audit of an unnamed listed company. Anyone know which one?
HKICPA settles regulatory proceedings involving Deloitte Touche Tohmatsu, BDO Binder and partners
HKICPA, 19-Jan-2009
HKICPA, 19-Jan-2009
BDO Binder, Kwan Wong Tan & Fong, Deloitte Touche Tohmatsu v HKSA
HK Court of First Instance, 1-Sep-2000
HK Court of First Instance, 1-Sep-2000
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy