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Howard Winn

Lai SeeWe are still waiting for Anthony Wu's sanctions

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Anthony Wu

We are beginning to fret again about Anthony Wu Ting-yuk and the long-running saga of the disciplinary proceedings which have been brought against him by the Hong Kong Institute of Certified Public Accountants.

It is almost five months since a disciplinary committee found Wu, a former chairman of the Hospital Authority, and two others guilty of professional misconduct. The other two are Ernst & Young, of which Wu was chairman until December 2005, and Catherine Yen Ka-shun, another senior figure at the accounting firm.

The complaint relates to the collapse of an investment in New China Hong Kong in 1999. Wu was the financial adviser to the company and EY was the auditor.

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Normally, disciplinary findings and sanctions are announced at the same time, though on occasions if the findings are announced separately, the sanctions usually come about a month later.

But it is now five months since the disciplinary committee announced its findings, and there is still no sign of this inordinately protracted process coming to an end.

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We are waiting for the chairman of the committee, Kumar Ramanathan, to complete his report, which will unveil the sanctions and the reasons for imposing them.

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