Chan, Dominic Kam Fuk 陳錦福

Centurion ZD CPA Ltd, Chan Kam Fuk & Ling Chun Kwok fined total HK$700k
Accounting & Financial Reporting Council, 29-Aug-2023
Relating to goodwill accounting for an acquisition in the 2016 audit of China Infrastructure Investment (0600). In our view, goodwill assessment should be left to the market, not directors and auditors, as it seeks to value the future. Every day, markets reach their own view on the future. Goodwill accounting, written into standards by the profession, is a gravy train for auditors and valuers. An identical business, built organically and not through acquisition, would have zero goodwill in its balance sheet.
HKICPA fines Dominic Chan Kam Fuk and his firm HK$50k
HKICPA, 15-Jan-2021
For bad work on the Dec-2018 interim report of Summi (0756). This is the 3rd fine for Mr Chan and his firm in 5 years - a relatively minor cost of doing business. In between the interim results and the interim report, Shinewing resigned as auditor on the purported grounds of being unable to agree fees. So the report contained an "Independent Practitioner's Review Report" as Mr Chan's firm was not the appointed auditor.
HKICPA fines Dominic Chan Kam Fuk and his firm HK$80k
HKICPA, 15-Jul-2019
This is their second fine in 2 years. This time it's for duff EPS calculations on Art Textile (now Art Group, 0565.HK).
HKICPA fines Dominic Chan Kam Fuk and his firm HK$30k
HKICPA, 23-Aug-2016
The listed company involved is not named. Mr Chan's firm merged into DCAW (CPA) Ltd from 1-May-2016.
Bubbles and troubles in Hong Kong
Pour yourself a coffee and digest this long article as we investigate several ongoing abusive "open offers" and placings as well as show you who's been making out in multi-billion-dollar bubbles. We call on regulators and rule-makers to take action. (24-Sep-2015)

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