Ernst & Young (HK) 安永會計師事務所
HKICPA fines Ernst & Young HK$350k and Andrew Wu Kwok Keung HK$100k
HKICPA, 9-Oct-2019
Over 14 years after optical frame-maker Moulin collapsed in a heap of fraudulent accounts, the auditor and its ex-managing partner, who retired in 2010, are fined for their myopic see-no-evil approach to the work. We note that Mr Wu now chairs the audit committee of SPT Energy (1251). Let's hope his vision has improved. Mr Wu's fine takes into account his "personal circumstances", which presumably include pay of RMB340k last year from SPT Energy. Moulin paid E&Y HK$10.8m for the 2 years in question.
HKICPA, 9-Oct-2019
Over 14 years after optical frame-maker Moulin collapsed in a heap of fraudulent accounts, the auditor and its ex-managing partner, who retired in 2010, are fined for their myopic see-no-evil approach to the work. We note that Mr Wu now chairs the audit committee of SPT Energy (1251). Let's hope his vision has improved. Mr Wu's fine takes into account his "personal circumstances", which presumably include pay of RMB340k last year from SPT Energy. Moulin paid E&Y HK$10.8m for the 2 years in question.
HKICPA fines Ernst & Young, Kwok Chee Tack and Kevin Wong Kam Man over duff audits and reports in 1997-2002
HKICPA, 24-Aug-2018
16 years after the ICAC arrested various directors of Yue Fung, Gold Wo and Fu Cheong (all since delisted), the auditors finally get slapped on the wrists with fines of HK$100k to HK$400k, having admitted the complaints against them. E&Y and Kwok Chee Tack was also fined in 2015 over the audits of another fraud, Akai, for 1997-1999.
HKICPA, 24-Aug-2018
16 years after the ICAC arrested various directors of Yue Fung, Gold Wo and Fu Cheong (all since delisted), the auditors finally get slapped on the wrists with fines of HK$100k to HK$400k, having admitted the complaints against them. E&Y and Kwok Chee Tack was also fined in 2015 over the audits of another fraud, Akai, for 1997-1999.
China Longyuan Power (0916): we appointed the wrong auditor
Company announcement, 18-May-2018
Following a Webb-site complaint to HKEX, it emerges that instead of appointing Ernst & Young Hua Ming LLP (of mainland China) at last year's AGM, they meant to appoint Ernst & Young (HK), which signed the 2017 audit report. We have also filed complaints with the HKICPA and Financial Reporting Council, because a HK firm shouldn’t sign an audit report when it hasn't been appointed. The two firms are legally separate.
Company announcement, 18-May-2018
Following a Webb-site complaint to HKEX, it emerges that instead of appointing Ernst & Young Hua Ming LLP (of mainland China) at last year's AGM, they meant to appoint Ernst & Young (HK), which signed the 2017 audit report. We have also filed complaints with the HKICPA and Financial Reporting Council, because a HK firm shouldn’t sign an audit report when it hasn't been appointed. The two firms are legally separate.
HKICPA fines Ernst & Young, Bennett Wai Siu Hung & Augustine Tong Ka Yan
HKICPA, 15-Nov-2016
HKICPA fails to name the listed company involved. Update: A source tells Webb-site it is CW Group holdings Ltd (1322).
HKICPA, 15-Nov-2016
HKICPA fails to name the listed company involved. Update: A source tells Webb-site it is CW Group holdings Ltd (1322).
HKICPA fines Ernst & Young and partner Stephen Hui Kin Fai HK$30k
HKICPA, 12-Sep-2016
They doesn't name the listed firm involved, but Webb-site can tell you it was New Century Group HK Ltd (0234), in relation to the sale of a hotel in Batam, Indonesia.
HKICPA, 12-Sep-2016
They doesn't name the listed firm involved, but Webb-site can tell you it was New Century Group HK Ltd (0234), in relation to the sale of a hotel in Batam, Indonesia.
Charles Li v SEHK and various listed companies and auditors
HK Court of First Instance, 28-Jun-2016
There is not a single listed company amongst the defendants in which we would invest.
HK Court of First Instance, 28-Jun-2016
There is not a single listed company amongst the defendants in which we would invest.
Ernst & Young, Kwok Chee Tack & Wong Yat Fai fined over 1997-1999 Akai audits
HKICPA, 17-Apr-2015
15 years after Akai collapsed in HK's largest ever bankruptcy, some auditor wrists get slapped. Wong Yat Fai was also involved in the Global Trend fiasco.
HKICPA, 17-Apr-2015
15 years after Akai collapsed in HK's largest ever bankruptcy, some auditor wrists get slapped. Wong Yat Fai was also involved in the Global Trend fiasco.
HKICPA at last determines sanctions for E&Y, Anthony Wu Ting Yuk and Catherine Yen Kai Shun
HKICPA, 23-Jul-2014
HKICPA, 23-Jul-2014
Ernst & Young produces disc of audit working papers in HK and appeals order over mainland papers
SFC, 23-Jun-2014
SFC, 23-Jun-2014
HKICPA disciplines Ms Yeung Ho Yin, partner, and Ernst & Young (HK)
HKICPA, 27-Mar-2014
The listed company involved is not named, but it is almost certainly First Credit Finance Group Ltd (8215).
HKICPA, 27-Mar-2014
The listed company involved is not named, but it is almost certainly First Credit Finance Group Ltd (8215).
HKICPA disciplinary decision against Anthony Wu, Catherine Yen & Ernst & Young
HKICPA, 24-Dec-2013
We are asked to believe that the decision was only handed down at the end of Christmas Eve, not held back to minimize embarrassment to the defendants.
HKICPA, 24-Dec-2013
We are asked to believe that the decision was only handed down at the end of Christmas Eve, not held back to minimize embarrassment to the defendants.
SFC commences legal proceedings against Ernst & Young over access to accounting records
SFC, 27-Aug-2012
Closely following the SFC's suspension of China High Precision (0591) comes news of another case, this time involving an auditor which claims that China's law on "state secrets" prevents it from handing over its paperwork on an aborted IPO. This is a real test of one country two systems - will the HK courts enforce a mainland law on secrecy?
SFC, 27-Aug-2012
Closely following the SFC's suspension of China High Precision (0591) comes news of another case, this time involving an auditor which claims that China's law on "state secrets" prevents it from handing over its paperwork on an aborted IPO. This is a real test of one country two systems - will the HK courts enforce a mainland law on secrecy?
HKICPA fines Albert Chan Wing Kui, bans him for 5 years
| Reasons
HKICPA, 26-Apr-2012
As usual, the HKICPA fails to name the listed company. Mr Chan was Financial Controller of Fu Cheong International Holdings Ltd which listed in 2002 and faked its accounts. Ernst & Young was the reporting accountant in the IPO and auditor for 2001. With good behaviour Mr Chan probably served 50 months and was paroled last year.
HKICPA, 26-Apr-2012
As usual, the HKICPA fails to name the listed company. Mr Chan was Financial Controller of Fu Cheong International Holdings Ltd which listed in 2002 and faked its accounts. Ernst & Young was the reporting accountant in the IPO and auditor for 2001. With good behaviour Mr Chan probably served 50 months and was paroled last year.
Anthony Wu Ting Yuk in HKICPA disciplinary proceedings
HKICPA, 29-Dec-2011
Political heavyweight Hospital Authority, HKGCC and Bauhinia Foundation Chairman Anthony Wu Ting Yuk and Ernst & Young (HK), the firm he chaired until 31-Dec-2005, top the list as the longest-outstanding disciplinary case of the HKICPA at 30-Nov-2011. Past or present E&Y partner Catherine Yen Kai Shun is involved in the same case, which has been running since 9-Dec-2009.
HKICPA, 29-Dec-2011
Political heavyweight Hospital Authority, HKGCC and Bauhinia Foundation Chairman Anthony Wu Ting Yuk and Ernst & Young (HK), the firm he chaired until 31-Dec-2005, top the list as the longest-outstanding disciplinary case of the HKICPA at 30-Nov-2011. Past or present E&Y partner Catherine Yen Kai Shun is involved in the same case, which has been running since 9-Dec-2009.
Sean Eric McLean Hotung v Hillhead Ltd, Ernst & Young and Ronald Ho Yau Hoo
HK Court of Appeal, 27-Jan-2010
HK Court of Appeal, 27-Jan-2010
Sean Eric McLean Hotung v Hillhead Ltd, Ernst & Young and Ronald Ho Yau Hoo
HK Court of First Instance, 31-Dec-2009
HK Court of First Instance, 31-Dec-2009
Akai Holdings Ltd v Ernst & Young
HK Court of Final Appeal, 30-Oct-2009
On security for costs against an overseas company registered in HK
HK Court of Final Appeal, 30-Oct-2009
On security for costs against an overseas company registered in HK
The New China Hong Kong Group Ltd v Ernst & Young and Anthony Wu Ting Yuk
HK Court of First Instance, 29-Aug-2008
HK Court of First Instance, 29-Aug-2008
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)
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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