I REFER to the editorial comment which appeared under the title of ''Enthusiasm for China listings may turn sour'' (Business Post, April 23).
The author remarked that the nine Chinese enterprises expected to list on the exchange in the second half of the year are unlikely to pick up a sense of responsibility to their minority investors from their professional advisers, naming merchant bankers,accountants and lawyers.
It says: ''These professionals appear to be going to any length to win business, and will presumably agree to as many compromises or bendings of the rules as they can get away with without incurring the displeasure of the Hongkong stock exchange.'' I would query the basis for and fairness of such a remark, which I regard as a totally unfounded criticism of the accountancy profession.
The accountancy profession in Hongkong, represented by the Hongkong Society of Accountants (HKSA), has directed much effort and attention to bringing about comparable standards of financial disclosure by these China companies.
The HKSA liaises with and advises both Hongkong and China authorities on the development of accounting rules and regulations in China to meet this objective.
The HKSA has a clear objective to uphold accounting standards and rules in Hongkong.