Bio Beauty Group Ltd. 真優美集團有限公司

HKICPA disciplines Albert Lam Man Sum & Hopkins CPA LtdReasons
HKICPA, 17-Apr-2012
The HKICPA doesn't name the listed company, but we can tell you that it was China Billion Resources Ltd, then known as Global Green Tech Group Ltd (0274).
Investigation report by Audit Investigation Board
Financial Reporting Council, 13-May-2011
We deduce that this relates to Global Green Tech (0274) and its 2008 accounts, which received a clean audit report. The auditor was Hopkins CPA Ltd. The only "direct non-wholly owned subsidiary" listed in the accounts was Bio Beauty Group Ltd, which aborted its IPO in late 2007. At that time the subsidiary auditor was Deloitte, but it may have changed. Note the concerns expressed by the subsidiary auditor in paragraphs 4.1.3.3 to 4.1.3.5. It resigned on 6-Aug-2009 without issuing an audit report.
Cosmetic appearances
When the ICAC charged a person with engineering fraudulent acquisitions by Uni-Bio Science (0690) last month, we suspect they only saw half the story. Webb-site looks at the overlaps between UBS and Global Green Tech (0274), and at a series of its acquisitions. (25-May-2010)

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