RSM Hong Kong

HKICPA fines RSM HK and Stephen Wong Tak Man
HKICPA, 9-Apr-2018
At last, the decision in this 2015 case regarding a 2009 audit is published.
HKICPA v Stephen Wong Tak Man & RSM Nelson Wheeler
HK Court of Final Appeal, 22-Dec-2017
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 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.
HKICPA v Stephen Wong Tak Man & RSM Nelson Wheeler
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.
Re bankrupt Ian Chu Chi Ho
HK Court of First Instance, 21-Jan-2016
Application by money-lenders in what we call the "Chung Nam Network" for the removal of the bankruptcy trustees is dismissed. The trustees have entered into a funding agreement and are looking into "a number of apparently suspicious transactions arising from the relationship of the Bankrupt" with the lenders. Most of the money purportedly borrowed by Ian Chu Chi Ho was paid by the lenders directly HEC Finance 92 Ltd, another company in the network. That was formerly Chung Nam Finance Ltd.
Re bankrupt Ian Chu Chi Ho: applications by money lenders
HK Court of First Instance, 4-Dec-2014
The applicants are owned by Willie (0273), Dragonite (0329) and Forefront (0885), all part of what we call the Chung Nam Network. Mr Chu was an asset manager at Seekers Advisors H.K. Ltd, which is owned by HEC Capital Ltd, a hub of the network. The judge says "it is no secret that the applicants are the subject of [the trustees'] investigation". The trustees are partners of RSM Nelson Wheeler.
Re bankrupt Ian Chu Chi Ho: application by money lenders to see trustees' funding agreement is dismissed
HK Court of First Instance, 18-Nov-2014
"The majority of the funds borrowed by the Bankrupt were paid by Forefront, Sun Willie and Dragonite directly to HEC Finance without ever being paid to the Bankrupt...Further investigations by the Trustees indicate that the Bankrupt continues to be employed by Seekers Financial" - affirmation of trustee Kenny Wong Kwok Keung.
Caterpillar alleges multi-year accounting misconduct at main subsidiary of ERA Mining Machinery Ltd, a GEM company it bought and took private
Company media release, 18-Jan-2013
The accounts of the GEM company were audited by RSM Nelson Wheeler. The GEM company bought Siwei in 2009-10 in a reverse takeover. The reporting accountant on the acquisition was also RSM Nelson Wheeler. The former controlling shareholder was Mining Machinery Ltd, a private company owned by James Edward Thompson III and Emory Williams, the Chairman.
Investigation completed
Financial Reporting Council, 9-Nov-2012
RSM Nelson Wheeler appointed as Liquidators of Akai Holdings Ltd in Hong Kong
Liquidator, 24-May-2001

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