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- Xiamen-based start-up’s shares will be suspended at the open on Monday
- New York exchange will file a delisting notification when all appeal periods have expired
EY finally sounded the alarm last week, when they refused to sign off on Wirecard’s 2019 financial report, setting off a cascade of events that started with Wirecard admitting it couldn’t locate billions of euros in cash, followed by the ousting and arrest of former Chief Executive Officer Markus Braun.
EY finally sounded the alarm last week, when they refused to sign off on Wirecard’s 2019 financial report, setting off a cascade of events that started with Wirecard admitting it couldn’t locate billions of euros in cash, followed by the ousting and arrest of former Chief Executive Officer Markus Braun.
The previously unreported outreach by the CSRC was too late to stave off retribution by the US Congress to punish Chinese companies for what Louisiana Republican Senator John Kennedy called “cheating” in America’s capital markets, amid deteriorating US-China relations.
The previously unreported outreach by the CSRC was too late to stave off retribution by the US Congress to punish Chinese companies for what Louisiana Republican Senator John Kennedy called “cheating” in America’s capital markets, amid deteriorating US-China relations.
Chinese internet companies are increasingly asking auditors to validate data like number of daily active users, after the possibility Luckin had fabricated online order volumes to inflate its numbers was posited in a short-seller report.
Chinese internet companies are increasingly asking auditors to validate data like number of daily active users, after the possibility Luckin had fabricated online order volumes to inflate its numbers was posited in a short-seller report.
The Big Four accounting firm quits as auditor for 50 small firms this year as it shifts focus to high-growth firms, new China chairman says. The new strategy means it will go on a hiring spree.
The Big Four accounting firm quits as auditor for 50 small firms this year as it shifts focus to high-growth firms, new China chairman says. The new strategy means it will go on a hiring spree.
GSX Techedu, one of China’s largest online tutoring providers, has denied allegations by short seller Muddy Waters that most its students are internet robots.
GSX Techedu, one of China’s largest online tutoring providers, has denied allegations by short seller Muddy Waters that most its students are internet robots.
Delay would appear to be the default position for matters relating to government records and archives, when their management should be conducted within the framework of an archives law.
Delay would appear to be the default position for matters relating to government records and archives, when their management should be conducted within the framework of an archives law.
Audit Commission calls on government to review Olympic Committee’s cost controls after operating deficit soars from HK$33,000 to HK$588,000 in four years.
Audit Commission calls on government to review Olympic Committee’s cost controls after operating deficit soars from HK$33,000 to HK$588,000 in four years.
Between 2014 and 2019, about 73 per cent of courses have failed to meet a desired target employment rate of 60 per cent.
Between 2014 and 2019, about 73 per cent of courses have failed to meet a desired target employment rate of 60 per cent.
Audit Commission criticises six-year delay in the implementation of a long-term electronic historical record that will be publicly available.
Audit Commission criticises six-year delay in the implementation of a long-term electronic historical record that will be publicly available.
Audit Commission says 82 per cent of plots had not changed hands after being allocated to tenants for more than seven years without any justification.
Audit Commission says 82 per cent of plots had not changed hands after being allocated to tenants for more than seven years without any justification.
Luckin Coffee bondholders are ruing their fate after an accounting scandal sent the notes into distressed levels, barely three months after the debt sale in January.
Luckin Coffee bondholders are ruing their fate after an accounting scandal sent the notes into distressed levels, barely three months after the debt sale in January.
Scrutiny of TAL Education Group and iQiyi come as US and Chinese diplomats exchanged barbs over blame for the coronavirus pandemic, while a 20 month-long trade war continues to simmer.
Scrutiny of TAL Education Group and iQiyi come as US and Chinese diplomats exchanged barbs over blame for the coronavirus pandemic, while a 20 month-long trade war continues to simmer.
Hong Kong’s stock exchange operator will allow companies listed on its main board to defer the publication of their annual reports until mid-May because of the Covid-19 outbreak, if they release to the public a set of preliminary results, or key financial information, by the end of this month.
Hong Kong’s stock exchange operator will allow companies listed on its main board to defer the publication of their annual reports until mid-May because of the Covid-19 outbreak, if they release to the public a set of preliminary results, or key financial information, by the end of this month.
KPMG, with its global headquarters in the Netherlands, wants to focus its advisory business on technology, transformation, value creation, innovation and financial services, which would necessitate letting go of the team that handled general analysis and traditional advisory, the sources said.
KPMG, with its global headquarters in the Netherlands, wants to focus its advisory business on technology, transformation, value creation, innovation and financial services, which would necessitate letting go of the team that handled general analysis and traditional advisory, the sources said.
The trade war, social unrest and coronavirus outbreak will make it harder for individuals and companies to stay afloat, says Johnson Kong of HKICPA.
The trade war, social unrest and coronavirus outbreak will make it harder for individuals and companies to stay afloat, says Johnson Kong of HKICPA.
The Hong Kong stock exchange operator and accounting firms are looking at options to overcome potential delays in earnings reports by March 31, as auditors face travel curbs in mainland China following the outbreak of the Wuhan coronavirus.
The Hong Kong stock exchange operator and accounting firms are looking at options to overcome potential delays in earnings reports by March 31, as auditors face travel curbs in mainland China following the outbreak of the Wuhan coronavirus.
Tax agency wants the heirs to Hong Kong’s Crocodile Garments fortune to hand over 1,297 documents about an offshore company structure in Isle of Man. A lawyer says the offshore firms were only for philanthropy and never distributed gifts or income for the Chan family’s personal use.
Tax agency wants the heirs to Hong Kong’s Crocodile Garments fortune to hand over 1,297 documents about an offshore company structure in Isle of Man. A lawyer says the offshore firms were only for philanthropy and never distributed gifts or income for the Chan family’s personal use.
Industry lawmaker Kenneth Leung estimates 5,000 accountants joined the silent noontime march, exceeding expectations.
Industry lawmaker Kenneth Leung estimates 5,000 accountants joined the silent noontime march, exceeding expectations.
Deloitte China has acquired Hong Kong architecture firm WCWP International Limited for an undisclosed amount, in a deal described by an insider as “niche”, but one that points to a future where consultancy firms offer in-house real-estate advisory services as well.
Deloitte China has acquired Hong Kong architecture firm WCWP International Limited for an undisclosed amount, in a deal described by an insider as “niche”, but one that points to a future where consultancy firms offer in-house real-estate advisory services as well.
Tabloid claims staff from big four accounting firms crowdfunded advert in local newspaper in support of protests.
Tabloid claims staff from big four accounting firms crowdfunded advert in local newspaper in support of protests.
The unauthorised notices, sent anonymously via email and WhatsApp, call on employees of KPMG, Deloitte, EY, and PwC to strike on Monday and “stand for Hong Kong”.
The unauthorised notices, sent anonymously via email and WhatsApp, call on employees of KPMG, Deloitte, EY, and PwC to strike on Monday and “stand for Hong Kong”.
Deal allowing US regulator to see audit work of Chinese firms listed in the US may fall victim to ongoing US-China trade war.
Deal allowing US regulator to see audit work of Chinese firms listed in the US may fall victim to ongoing US-China trade war.
Half of finance professionals in Asia-Pacific believe their jobs will either disappear or change substantially over the next decade, with some of their work taken over by artificial intelligence and other technologies, according to a poll by CFA Institute.
Half of finance professionals in Asia-Pacific believe their jobs will either disappear or change substantially over the next decade, with some of their work taken over by artificial intelligence and other technologies, according to a poll by CFA Institute.
Agreement signed by the Financial Reporting Council and a unit of China’s Ministry of Finance will allow access to audit papers of mainland companies which are considered as ‘state secrets’.
Agreement signed by the Financial Reporting Council and a unit of China’s Ministry of Finance will allow access to audit papers of mainland companies which are considered as ‘state secrets’.
Director of Audit reports that 47 per cent of the 607 projects had been underway for more than four years without proper oversight.
Director of Audit reports that 47 per cent of the 607 projects had been underway for more than four years without proper oversight.
The city’s chief auditor predicts vehicles to soon outnumber parking spaces, and calls declining ratio a ‘cause for concern’.
The city’s chief auditor predicts vehicles to soon outnumber parking spaces, and calls declining ratio a ‘cause for concern’.
Tax forms for 29 international artists found to be overdue by 10 to 11 months. Festival organiser blames staff turnover.
Tax forms for 29 international artists found to be overdue by 10 to 11 months. Festival organiser blames staff turnover.
Hong Kong’s return to top of global IPO table means there’s a need for more qualified professionals to carry out traditional audits
Hong Kong’s return to top of global IPO table means there’s a need for more qualified professionals to carry out traditional audits
More than 280 mainland companies revised their earnings outlooks for 2018 by a deadline on Thursday, in a wave of write-downs tied to M&A boom, analysts say.
More than 280 mainland companies revised their earnings outlooks for 2018 by a deadline on Thursday, in a wave of write-downs tied to M&A boom, analysts say.