HLB Hodgson Impey Cheng Limited 國衛會計師事務所有限公司

Court disqualifies Nicholas Chiu Sai Chuen, ex-INED of China Candy (ex-8182) for 3 yearsJudgment
SFC, 12-Dec-2023
For negligence in failing, an an INED and member of the board's Audit Committee, to detect a massive overstatement of cash in the group accounts. Auditors HLB Hodgson Impey Cheng didn't spot it either.
SFAT affirms SFC decision to fine Yi Shun Da Capital Ltd for sponsor due diligence failuresSFAT Decision
SFC, 19-Oct-2021
Relating to the aborted IPO of Imperial Sierra Group Holdings Ltd, in the track record of which, circular payments were supected. The proposed fine was reduced from HK$14m to $4.5m by the SFC and to $3m by the SFAT after considering the firm's financial position. The take-away from this is perhaps don't leave more capital inside your firm than is required by regulations, and pay out profits regularly.
HKICPA reprimands Mr Yu Chi Fat of HLB Hodgson Impey Cheng
HKICPA, 3-May-2021
For bad work on the 2012 audit of Emperor Culture (0491). The case was referred by the Financial Reporting Council. Notably there is no fine, but costs of HKICPA and FRC at HK$39k are awarded. We note that Mr Yu and his firm were fined in Aug-2019 in another case.
HKICPA fines HLB Hodgson Impey Cheng Ltd, Yu Chi Fat & Shek Lui HK$60k
HKICPA, 2-Aug-2019
The 2013 accounts of China Creative Digital Entertainment (8078) stuffed an investment loss below the line, in comprehensive income, rather than running the impairment through profit and loss, thereby understating the loss for the year.
HKICPA fines HLB Hodgson Impey Cheng & 2 partners HK$1m +HK$3m costs
HKICPA, 16-May-2018
This relates to the 2003-2005 compliance audits of Tiffit Securities (HK) Ltd, which collapsed in 2006 after misappropriation of assets.
Deloitte quits as auditor of China Animal Healthcare (0940)
Company announcement, 29-Sep-2015
Deloitte has alleged misconduct by a company employee and cannot agree with the company on additional audit procedures. But HLB Hodgson Impey Cheng is willing in principle to take them on.
Sound Global (0967): Deloitte quits as auditor over "scope of governance response"
Company announcement, 22-Jul-2015
And HLB Hodgson Impey Cheng takes over.
HLB Hodgson Impey Cheng & others v HKICPA
HK Court of Final Appeal, 26-Jul-2013
HLB Hodgson Impey Cheng & others v HKICPA
HK Court of Appeal, 17-Nov-2011
HLB Hodgson Impey Cheng & others v HKICPA
HK Court of Appeal, 1-Aug-2011
HLB Hodgson Impey Cheng & others v HKICPA
HK Court of First Instance, 10-Aug-2010
Toxic IPOs in HK
In this epic article, we take you through the IPOs of at least 14 listed companies, 3 of which have already led to criminal charges. We explain the inter-relationships between the companies, sponsors, lead managers, auditors and the INEDs. Before you buy another IPO, stop and read this article. (21-Mar-2005)

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