HKSA defends reports

PUBLISHED : Saturday, 22 May, 1999, 12:00am
UPDATED : Saturday, 22 May, 1999, 12:00am

The Hong Kong Society of Accountants (HKSA) has defended reports it submitted to the stock exchange on three cases of suspected accounting malpractice.

'They [the exchange] asked general questions, and the society in fact has given them far more specific answers,' HKSA president Kam Pok-man said yesterday.

Sources said on Thursday the exchange believed the reports were 'too simple' and it planned to lodge a formal complaint with the HKSA.

Mr Kam said to his knowledge the exchange had never invited HKSA representatives to a meeting to explain the relevant reports.

'I think things would be better if we could talk to each other,' he said.

Mr Kam said the society would hold a press conference next week to explain the issue.

The HKSA set up a task force to study a number of cases passed from the exchange early this year and reported back on three of them last week.

Exchange senior executive director Lawrence Fok Kwong-man would not comment on the issue yesterday.