• Mon
  • Dec 22, 2014
  • Updated: 4:01am

Audit

Shenzhen wasted billions on World University Games, audit finds

Opening and closing events cost 337 million yuan. Photo: Xinhua

Shenzhen lost 12.8 billion yuan (HK$15.7 billion) on the World University Games last year, a review by the city's auditor has found.

Saturday, 29 December, 2012, 5:11am 3 comments

Legco split on criminal liability

Lawmakers have expressed mixed views on whether accountants should face criminal liability for failing to declare a company's financial problems in audits.

4 Jul 2012 - 12:00am

Builders' supplier admits error over accounts auditing

Listed building materials distributor E. Bon Holdings says its final results were mistakenly termed 'audited' despite its auditors not signing off on its books.

30 Jun 2012 - 12:00am

Threat of jail will get in way of professional audit judgment

Every person specified in subsection (2) commits an offence if the person knowingly or recklessly causes a statement required to be contained in an auditor's report under section 398(2)(b) or (3) to be omitted from the report.

Companies Amendment Bill, clause 399

26 Jun 2012 - 12:00am

Building up a better team

Internal Control for Senior Managers and Directors HKMA

How managers can bring about cultural change in organisations in the shape of better ethics is one of the hottest topics in the global economy in the wake of the financial crisis.

8 Jun 2012 - 12:00am

83 S.O.E. officials caught out by audits

Eighty-three officials at major state-owned enterprises (SOEs) have been punished after government audits uncovered instances of illegal and improper activities.

2 Jun 2012 - 12:00am

Audit regulator probes HK-listed mainland firms

Hong Kong's accounting regulator is investigating several local-listed mainland firms for suspected financial irregularities.

The Financial Reporting Council's probes follow fund managers' move last week to dump shares in the firms after their auditors quit.

3 Apr 2012 - 12:00am

Solid start in auditing

The interactive environment of the CPA Australia Career Expo is just one of the attractions for aspiring accountants, according to RSM Nelson Wheeler, a CPA firm that offers a range of services to local and international clients.

14 Jan 2012 - 12:00am

Don't expect too much from auditors - they're watchdogs, not bloodhounds

Alarm bells tend to ring when a company is given a clean bill of health by auditors and then suddenly becomes accused of accounting fraud. Those who follow and use financial statements - such as investors, analysts, credit agencies and creditors - rely on auditors to keep tabs on the accuracy of companies' accounts.

19 Dec 2011 - 12:00am

Shadowing, practising make perfect for Deloitte intern

Hoping to nurture young talent, Deloitte has been inviting year one undergraduate accounting students to join the Deloitte Club. Fonnie Tang Fong-yuen (left) was one of the 30 successful recent applicants. She talks to Wong Yat-hei about how she was awarded an internship at Deloitte's auditing sector for the global financial services industry (GFSI) division

9 Sep 2011 - 12:00am

Auditors face uphill battle with mainland companies

Auditors face an increasingly difficult task trying to verify the financial records of some mainland companies.

12 Jul 2011 - 12:00am

Who's watching the auditors?

Overseas-listed private mainland firms have been involved in a lot of accounting scandals in recent months. But why is such fraud so rife?

The fact is there are many incentives for managers to break the law - such as bonuses and stock options linked to share-price performance - and the likelihood of getting caught is fairly remote.

11 Jul 2011 - 12:00am

Auditors doubt Amax's accounts

The auditors of Macau casino investor Amax Holdings say they are unable to verify the company's accounts after it reported swinging from a loss to a profit of HK$1.17 billion in the year to March.

Amax, whose biggest shareholder is long-time Macau VIP gaming room operator Ng Man-sun, claims to own a 49.9 per cent stake in Ng's Greek Mythology casino on Taipa Island.

5 Jul 2011 - 12:00am

Internal controls in spotlight

The mainland's first enterprise risk management standard for companies listed there and overseas came into effect on January 1. It will apply to companies listed only on the main board of the Shanghai and Shenzhen stock exchanges from January 1 next year. All financial accounts with year-end dates after July 1, 2009, fall under the new standard.

21 Apr 2011 - 12:00am

Going green is creating demand for carbon auditors

An increasing number of companies are looking for carbon auditors to calculate, manage and reduce carbon-emission levels.

Shan Lam Shan-shan of Carbon Care Asia, a Hong Kong-based carbon-management consultancy, says going green is creating demand for carbon auditors.

21 Jan 2011 - 12:00am

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