- annual renewal of practising certificates
- annual renewal of CPA Firm, Corporate Practice and PIE Auditor registrations; and
- application for registration as a Registered PIE Auditor.
The AFRC has imposed sanctions on Mr Chan Kam Kwan (Chan) in relation to multiple professional irregularities arising from the practice review (Practice Review) on Chan Kam Kwan & Company (CKK & Co) conducted by the Hong Kong Institute of Certified Public Accountants (HKICPA) during the period from 19 April 2022 to 6 June 2022.
Chan was at all material times the sole proprietor and the only staff of CKK & Co. Chan admitted that he had blindly signed off and issued 11 auditor’s reports of private companies, and provided false and/or misleading information to the HKICPA prior to the commencement of the Practice Review. In addition, multiple deficiencies were identified on both system-wide and engagement levels in the Practice Review.
The AFRC has reprimanded Chan, imposed a pecuniary penalty of HK$300,000, and ordered that Chan not be issued with a practising certificate permanently and pay the costs and expenses of, and incidental to, the investigation in relation to Chan, in the sum of HK$25,532.
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