Au, Alvin Yiu Kwan 歐耀均
HKICPA fines BDO Ltd, Amos Li Wing Yin & Alvin Au Yiu Kwan HK$50k in total
HKICPA, 26-Mar-2019
Mr Au was also fined last June for his work at Baker Tilly on the 2006 audit of Egana, a US$1bn fraudulent company which collapsed following our whistle-blowing article in 2007. This time the fine relates to the audit of impairment of goodwill at Rosan Resources (0578) at 31-Dec-2012. Mr Li has since moved on to be a director of Moore Stephens CPA Ltd.
HKICPA, 26-Mar-2019
Mr Au was also fined last June for his work at Baker Tilly on the 2006 audit of Egana, a US$1bn fraudulent company which collapsed following our whistle-blowing article in 2007. This time the fine relates to the audit of impairment of goodwill at Rosan Resources (0578) at 31-Dec-2012. Mr Li has since moved on to be a director of Moore Stephens CPA Ltd.
HKICPA fines Baker Tilly and Mr Au Yiu Kwan over 2006 Egana audit
| Our article, 26-Jul-2007
HKICPA, 27-Jun-2018
At last, 11 years after Webb-site blew the whistle on the Egana fraud in our article of 26-Jul-2007, Baker Tilly and its former director get a slap on the wrist and fines of HK$250k and HK$100k respectively for their duff audit. BT even tries to claim that it wasn't responsible for its directors' failings. The audit fee for that year alone was HK$1.47m, far more than the fines. Egana had a market value of HK$7.76bn (US$1bn) on the day of our article, all of which was lost in the collapse.
HKICPA, 27-Jun-2018
At last, 11 years after Webb-site blew the whistle on the Egana fraud in our article of 26-Jul-2007, Baker Tilly and its former director get a slap on the wrist and fines of HK$250k and HK$100k respectively for their duff audit. BT even tries to claim that it wasn't responsible for its directors' failings. The audit fee for that year alone was HK$1.47m, far more than the fines. Egana had a market value of HK$7.76bn (US$1bn) on the day of our article, all of which was lost in the collapse.
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