Chan, Charles Wai Dune 陳維端
HKICPA fines Charles Chan Wai Dune, Delores Teh Eng Hua, Yau Hok Hung & CCIF CPA Ltd
HKICPA, 5-May-2022
For bad audit work on the 2005-2007 accounts of First Natural Foods (1076), now reborn as Imperial Pacific International Holdings Ltd. The main subsidiary of the Fujianese eel producer turned out to have 2 sets of accounts and there were forged sales. Ever alert, It took 7 years until the Financial Reporting Council received a complaint "from a regulator" (probably SFC) and another 3.5 years until they issued a report and sent it to the HKICPA in Nov-2018. We note that Mr Chan and his firm were previously fined by HKICPA in 2010 in a separate case.
HKICPA, 5-May-2022
For bad audit work on the 2005-2007 accounts of First Natural Foods (1076), now reborn as Imperial Pacific International Holdings Ltd. The main subsidiary of the Fujianese eel producer turned out to have 2 sets of accounts and there were forged sales. Ever alert, It took 7 years until the Financial Reporting Council received a complaint "from a regulator" (probably SFC) and another 3.5 years until they issued a report and sent it to the HKICPA in Nov-2018. We note that Mr Chan and his firm were previously fined by HKICPA in 2010 in a separate case.
HKICPA reprimands and fines Charles Chan Wai Dune and CCIF C.P.A. Ltd
HKICPA, 15-Mar-2010
This relates to a listed company which had a year-end of 31-Jul-04. Our database contains the client list, and we deduce that the company was UDL Holdings Ltd (0620), which transferred a revaluation surplus of HK$23m to income on disposal of floating craft and vessels in that year. CCIF continues to audit UDL.
HKICPA, 15-Mar-2010
This relates to a listed company which had a year-end of 31-Jul-04. Our database contains the client list, and we deduce that the company was UDL Holdings Ltd (0620), which transferred a revaluation surplus of HK$23m to income on disposal of floating craft and vessels in that year. CCIF continues to audit UDL.
China Treasure's Love for Yanion
Yesterday we told you how Yanion had blown over $400m on a series of questionable acquisitions from "independent third parties". Now we'll show you how China Treasure Greater China Investments, floated last year and with no disclosed links to Yanion, has thrown 58% of its net assets into shares of Yanion and two of its subsidiaries, without any announcements or shareholder approvals. (24-Jun-2003)
Yesterday we told you how Yanion had blown over $400m on a series of questionable acquisitions from "independent third parties". Now we'll show you how China Treasure Greater China Investments, floated last year and with no disclosed links to Yanion, has thrown 58% of its net assets into shares of Yanion and two of its subsidiaries, without any announcements or shareholder approvals. (24-Jun-2003)
Yanion's Rotten Onion
In the first of two stories, we peel away the layers of the onion that is Yanion, and we don't like what we find. You will see a series of questionable acquisitions at exorbitant prices, at least two of them involving the same "independent third party", followed by legal disputes, a disclaimed audit opinion, replacement of auditors, and massive write-offs. (23-Jun-2003)
In the first of two stories, we peel away the layers of the onion that is Yanion, and we don't like what we find. You will see a series of questionable acquisitions at exorbitant prices, at least two of them involving the same "independent third party", followed by legal disputes, a disclaimed audit opinion, replacement of auditors, and massive write-offs. (23-Jun-2003)
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy