solicitors disciplinary tribunal hong kong
Penalty: Leung Kin Sun, Sunny She has also been appointed by the Secretary for Financial Services and the Treasury of the Government of the Hong Kong Special Administrative Region as a member of Disciplinary Panel A of the Hong Kong Institute of Certiï¬ed Public Accountants. Deficiencies were found in the audit work carried out by the respondents in all six years. She completed a Bachelor of Law (first class honours) and a Bachelor of Arts at The University of Melbourne. (including FRC costs)(jointly paid by the respondents) If however, your contractual notice period is less than one week more than your statutory notice entitlement, your employer should pay you your statutory entitlement to notice on termination. Costs: Deficiencies were found in the respondents' audit work in the areas of sales and receipts for sales, purchases and related cash disbursements, long-term investments, preceding auditors' work review and analytical procedures. Penalty: So was convicted in the Magistrates' Courts for fraud. He failed to renew Professional Indemnity Insurance ("PII") cover of his practice for four consecutive years and to arrange Run-Off cover upon the de-registration of the practice. Please click here for the main bonus page. With sound legal knowledge through his studies in LL.B, PCLL and three LL.M in the past, Mr. (including FRC costs). Academia.edu is a platform for academics to share research papers. The respondent was a licensed person under the Securities and Futures Ordinance and an employee of a company which sponsored a listing on the Growth Enterprise Market board. Order: No practising certificate shall be issued to him for 18 months, of which 9 months will run concurrently with a previous disciplinary order issued against him in January 2018 and the remaining 9 months is to be consecutive to the said order. Lau & Au Yeung, C.P.A Limited the fundamental principles of integrity, and professional competence and due care in sections 100.5(a), 100.5(c), 110.2 and 130.1 of the Code of Ethics for Professional Accountants; Hong Kong Standard on Assurance Engagements 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information and Related Conforming Amendments; Hong Kong Standard on Auditing (“HKSA”) 500 Audit Evidence, HKSA 600 Special Consideration - Audits of Group Financial Statements (Including the Work of Component Auditors), HKSA 700 Forming an Opinion and Reporting on Financial Statements; and Hong Kong Standard on Quality Control 1 Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements. The Lawyer has updated security and added new features that can't run on this version of Internet Explorer in accordance with Microsoft's end of life notice for Internet Explorer 11. The 2nd respondent undertook a review of the listed group’s preliminary announcement of its final results for the financial year. The respondent’s practice was subject to a follow-up practice review. According to a recently published ruling, the German Federal Labour Court says you can. Further, the respondent failed to appoint an engagement quality control reviewer for the audit. A practice review of the practice found that the respondent colluded with a client to backdate an auditor’s report in order to mislead the Inland Revenue Department. Ng was the engagement quality control reviewer of the audit. Mok was practising in his own name. Practising certificate be cancelled and no practising certificate shall be issued for nine months, The respondents were partners of a deregistered firm which audited the consolidated financial statements of a Hong Kong listed group for the years ended 30 June 2008 to 2010. Cancellation of practising certificate with effect from 19 July 2017 and no practising certificate shall be issued to him for one year. The 3rd respondent audited the consolidated financial statements of a listed Group for the years ended 30 June 2011 and 2012. Often, the mere threat of an injunction may be enough to persuade a departing employee from breaching his contract. 2nd Respondent Dechert LLP in the UK (âDechert LLP UKâ) is a limited liability partnership registered in England & Wales (Registered No. (b) Removal from the register of CPAs permanently with effect from 21 October 2018. No practising certificate shall be issued for 12 months Extract of Reasons and Order, 1.HLB Hodgson Impey Cheng Limited The rationale behind this is that if you were entitled to withdraw your resignation, then you are still technically employed, and your employer’s unreasonable refusal to accept this amounts to a “dismissal”. The Respondent was found to have failed to establish, maintain and document an effective system of quality control and provided false or misleading answers and/or furnished information recklessly in the electronic practice review self-assessment questionnaire. 1st Respondent sole proprietor practice. Research, Opinions and Reviews: Registered Users can write a blog/article/post up to 2,000 characters. Found inside – Page 318Pharmacy and Poisons Appeal Tribunal Pharmacy and Poisons Appeal Tribunal Ordinance ( cap 138 ) s 3 Barristers Disciplinary Tribunal Legal Practitioners Ordinance ( cap 159 ) s 36 Solicitors Disciplinary Tribunal Legal Practitioners ... Our digital products are fully compatible with all modern internet browsers, including Chrome, Firefox, Microsoft Edge and more. Removal from the register of CPAs for three years with effect from 27 April 2021. was convicted in the Magistrates’ Court in June 2019 of the offence of committing an act outraging public decency. Failure or neglect to observe, maintain or otherwise apply the fundamental principle of Professional Behaviour in sections 100.5(e) and 150.1 of the Code of Ethics for Professional Accountants. identified a number of significant deficiencies in its system of quality control. 3rd Respondent HK$82,805.30. Goodwin has been building its Munich offering, but is still some way off the established firms. As a result, the company dismissed her. 3. Penalty: The corporate practice audited the consolidated financial statements of a Hong Kong listed company for the year ended 31 March 2011 and the period ended 31 December 2011 and expressed unmodified auditor's opinions. to improve your user experience. If you need professional help with completing any kind of homework, Solution Essays is the right place to get it. As a reward for her part in processing the transaction, she privately accepted the listed company's shares given to her by the other director. The respondent was found to have breached a number of HKSAs, the Code of Ethics for Professional Accountants Ordinance and was guilty of professional misconduct. 12005-2019, dated 25 March 2020, a junior solicitor (the respondent) was found to have⦠[Hong Kong] [Industry Insights] [Profession] HK$50,000, Costs: The respondent is the sole proprietor of two practices. There were non-compliance with financial reporting standards and auditing irregularities in relation to an acquisition recorded in the financial statements. Advised the Law Society of Hong Kong on its appeal against the penalties imposed by the Solicitors Disciplinary Tribunal on a solicitor who had acted dishonestly. He was found by the Court of First Instance in a court action filed by Securities and Futures Commission to have breached his director's duties to the company by falsely putting forward a non-existent agreement, causing the company to wrongly pay a dividend of RMB18.69 million. Failure or neglect to observe, maintain or otherwise apply Hong Kong Standard on Auditing (HKSA) 260, HKSA 320, HKSA 500, HKSA 550, HKSA 580 and the fundamental principle of. Whether you are looking for essay, coursework, research, or term paper help, or with any other assignments, it is no problem for us. (including FRC costs). The respondent failed to declare to the Institute that she had criminal convictions in the Institute's annual membership renewal. Penalty: Removal from the register of CPAs for three years with effect from 27 April 2021 RSM Hong Kong (formerly RSM Nelson Wheeler). your employer could accept your resignation with an early termination date, which might actually suit them; they could insist that you work your full notice period. Landau Law is a trading name of Landau Law Limited (Company No: 08876494) and regulated by the Solicitors Regulation Authority (Registered No: 611950)Designed by WHOLEGRAIN DigitalPlease be aware that this site uses cookies for Google Analytics and social media.© Landau Law Limited. He advises on a wide range of commercial disputes and represents clients in both court and arbitration proceedings in and around the Asia Pacific Region. ... Futhermore, Cynthia has considerable experience in Solicitorsâ Disciplinary Tribunal cases. Removal from student register with effect from 5 July 2017, Costs: (ENG) This is why a negotiated exit with your employer is by far the best route to take. Reprimand Please confirm you have read and understood our “1 day policy”. Penalty: The complaint concerned deficiencies in the audit work conducted on impairment assessment of the company's interests in natural resource extraction and mining projects included in the financial statements. Failure or neglect to observe, maintain or otherwise apply paragraphs 2 and 4 of Statement 1.200 Professional Ethics Explanatory Foreword and being guilty of dishonourable conduct. Even ending your resignation letter with “kind regards” or “my very best wishes”, is perhaps taking it too far. HK$46,827, 1.Lam Kwan, Anthony This provides certainty for you, so you are not left waiting.In most cases, however, we are able to let you know the same day, and often within hours if we can take your matter forward. This includes any time that you are off sick (assuming you are entitled to sick pay), or on holiday or maternity, paternity or adoption leave. The Respondent was convicted in the District Court of two counts of dealing with property known or believed to represent proceeds of an indictable offence, contrary to section 25(1) and (3) of the Organized and Serious Crimes Ordinance (Cap. Penalty: However, the company's full year results announcement in March 2013 revealed that performance had in fact deteriorated significantly. without reasonable excuse, to comply with a direction issued by the Practice Review Committee (PRC) under section 32F(2)(b) of the PAO, and breach of the fundamental principle of integrity in sections 100.5(a) and 110 of the Code of Ethics for Professional Accountants. about deficiencies in the audit. The Respondents audited the financial statements of a Hong Kong listed company and its subsidiaries and were found to have failed to properly interpret Hong Kong Accounting Standard ("HKAS") 39 Financial Instruments: Recognition and Measurement, which requires an entity to recognize an impairment loss in profit or loss for an available-for-sale financial asset when objective evidence of impairment exists. 159) Hong Kong Government é¦æ¸¯æ¿åº Nov 2019 - Present 2 years. The respondents were aware of the incorrect statement in the announcement but they failed to follow the relevant guidance in the Institute’s Practice Note 730 and take appropriate actions in the circumstances. Cancellation of practising certificate with effect from 15 August 2017 and no practising certificate shall be issued to the Respondent for 12 months. Costs: Permit number for Hong Kong, Macau and Taiwan Residents. The respondent was found to have not complied with the Code of Ethics for Professional Accountants and was guilty of professional misconduct. Whether you're looking at private practice, in-house legal or an exciting business support role, you'll find your future here. Removal from the register of CPAs for 12 months with effect from 13 May 2019, Removal from the register of CPAs for two years with effect from 24 May 2019, of professional misconduct and dishonourable conduct, Removal from the register of CPAs for one year with effect from 29 April 2019. Practising certificate be cancelled and no practising certificate shall be issued for 36 months, (including FRC costs) paid by the two respondents jointly, the fundamental principles of integrity, and professional competence and due care in sections 100.5(a), 100.5(c), 110.2 and 130.1 of the, Hong Kong Standard on Auditing (“HKSA”) 500, Special Consideration - Audits of Group Financial Statements (Including the Work of Component Auditors), and Hong Kong Standard on Quality Control 1. was the former managing director of the practice and responsible for its quality control system. A lot has changed since we launched all those years ago, but our commitment to local, professional service remains at the heart of everything we do. Sherman Chan. The respondent was the managing director of a corporate practice, Parker Randall CF (H.K.) You are entitled to receive your normal pay during your notice period, as set out in your contract of employment. ... and are entitled to represent clients in any court or tribunal in England and Wales. All rights reserved. If you have been employed less than a month, then you do not need to provide any notice. Guilty of professional misconduct as a result of failure to co-operate in practice review. Corrigendum. For example, your employer may incur an increase in salary costs to replace you during your notice period or may suffer some other financial loss (especially if you hold a senior position); your employer could refuse to accept your immediate resignation, and seek an injunction from the courts to enforce the employment relationship as continuing for the duration of the notice period. You would be able to avoid having a gross misconduct dismissal on your record, because you resigned first. Legal spend by the Department for Transport topped £1bn in last five years, For the first time, tech investment is outstripping property as one of law’s biggest overheads, The legal watchdog isn’t functioning properly when it comes to policing the top of the profession, For Gibson to crack the PE market, it must invest wisely, If anyone should be on top of regulatory changes, it’s lawyers. what is normal for a person of that seniority and in the industry). The listed group entered into a sale transaction which allowed the buyer to settle the payment by interest-free instalments over 10 years. The audit procedures contained deficiencies relating to audit materiality, related party transactions, bank confirmations and certain income and expenditure items. The 3rd Respondent was the engagement partner in the second and third years. The 1st respondent was the engagement director and the 2nd respondent was the engagement quality control reviewer of the audit. The 1st Respondent is the sole proprietor of the 2nd Respondent which expressed an unmodified auditor's opinion on the financial statements of an approved charitable institution for the year ended 31 March 2009. Cancellation of practising certificate with effect from 13 February 2018 and no practising certificate shall be issued to the Respondent for 12 months. Costs: Failure or neglect to observer, maintain or otherwise apply Hong Kong Standard on Auditing (HKSA) 230 Audit Documentation, HKSA 500 Audit Evidence, HKSA 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures; and the fundamental principle of professional competence and due care in sections 100.5(c) and 130.1 of the Code of Ethics for Professional Accountants. Costs: The 1st respondent was the engagement director in 2011 and the 2nd respondent was the engagement director in 2012. The respondent provided copies of two medical certificates purportedly issued by a hospital in support of her sick leave applications to her employer. In addition, the respondent attempted to mislead the practice reviewer by creating new working papers or changing other working papers after the audit report date, and making untrue statements in a meeting with the reviewer. Costs: Hong Kong Juror on list, Jury Service, High Court (CAP. Additionally, the practice reviewer found significant deficiencies in the audit of a Hong Kong listed company by the 1st Respondent and the compliance audit of a regulated company by the 2nd Respondent. The 2nd respondent was the engagement quality control reviewer (EQCR) of the audit. The Respondent's appeal against the Disciplinary Committee's decision was struck out by the Court of Appeal on 6 April 2018. Removal from the register of CPAs for two years with effect from 21 August 2020, The respondents failed to perform sufficient audit procedures regarding the group’s accounting treatment of a, construction contract and fees paid for consultancy services. Penalty: The 1st and 2nd Respondents were the engagement partners. The respondent failed to provide the working papers and repeatedly gave inconsistent and unbelievable explanations to the FRC as to why the working papers were unavailable. The Respondent was found to have failed to establish and maintain an effective system of quality control and have misused qualified opinions to circumvent necessary audit procedures. Ms. Leung has been appointed as a notary public member of the Notaries Public Disciplinary Tribunal Panel. 1) Andrew David Ross Reprimand She later sold the shares in the market and received about HK$317,000. HK$156,669.90 Found inside – Page 385... Paul, the Consolidated Index of All Reported Hong Kong Decisions has the following: Tse Wai Chun Paul v Solicitors Disciplinary Tribunal [CA] [2002] 2 HKC 1 Tse Wai Chun v Solicitors Disciplinary Tribunal & Another [CFI] [2002] 3 ... HK$50,000 Leon Chan was a member of the Solicitors Disciplinary Tribunal Panel from May 1993 to May 2008 and Panel Chairman of the Appeal Tribunal Panel against decision of the Building Authority from 2007 to 2012. - It took place in the context of the 2019â2020 Hong Kong protests. 2nd Respondent Frederick is a Solicitor Advocate (Civil) and has attained the Higher Rights of Audience. 2nd Respondent The respondent failed to perform an effective engagement quality control review to evaluate the significant judgements made and conclusions reached by the audit team. Our "1 day policy" concerns the free legal advice service as set out on our free employment law advice page. China-Appointed Attesting Officer. Conviction of an offence involving dishonesty. London Universities Purchasing Consortium expands panel to 17 firms. Consult reports, Data Dive updates and court activity round-ups for the UK and global litigation markets. Order: You also need to consider that even if you do resign, your employer could continue the disciplinary process during your notice period, and ultimately still dismiss you for gross misconduct. The respondent is the sole proprietor of a practice. He started as a solicitor with Deacons and became partner of his own firm of Cheung, Tong & Rosa for 38 years (1983 to 2021) before joining Raymond Siu and Lawyers as consultant in August 2021. claiming falsely that his office was in disarray after typhoon devastation. HK$20,000 Please click here to go to the gross misconduct page to explore why a negotiated exit is the best route. The Institute received a referral from the Financial Reporting Council (FRC) about irregularities in the IPO Engagement and 2009 Audit. 31(1) of the Professional Accountants Ordinance would amount to a criminal offence. The 1st respondent was the engagement director. Failure or neglect to observe, maintain or otherwise apply Statement of Auditing Standards (SAS) 100 Objective and General Principles Governing an Audit of Financial Statements, SAS 230 Audit Documentation, SAS 300 Audit Risk Assessments and Accounting and Internal Control Systems, SAS 400 Audit Evidence, SAS 440 Representations by Management and SAS 460 Related Parties. As a result of the errors, there was non-compliance with Hong Kong Accounting Standard 33 Earnings Per Share. Costs: We are a leading employment law firm in the UK acting solely for employees and senior executives. Found inside – Page 21In the case of solicitors , the power to impose punishment is vested in the Solicitors ' Disciplinary Tribunal.33 A solicitor might , for the most serious misconduct be struck off . For less serious acts of misconduct , the solicitor ... He was previously a director of a corporate practice, which has now been de-registered. Notary Public. London associate Ryan Whelan represented the heavily publicised 'upskirting' case, which successfully campaigned to outlaw the act in 2019. The complaint arose from findings of a practice review visit on the Respondent's practice. The 1st respondent expressed unqualified auditor’s opinions on the financial statements of a Hong Kong listed company and its subsidiaries for the three years ended 31 March 1999, 2000 and 2001. There were irregularities in the audits in relation to accounting for an acquisition, use of the going concern basis and failure to appoint an engagement quality control reviewer. He is responsible for the practice‘s quality control system and the quality of its audit engagements. You would be able to avoid having a gross misconduct dismissal on your record, because you resigned first. In 2015, the practice was subject to an initial practice review which identified deficiencies in its quality control system and an audit engagement selected for review. Practising Solicitor Member of the Solicitors Disciplinary Tribunal Panel. A Practical Guide to Mental Health Law in Hong Kong will be a good starting point for preparing for the upcoming challenges before it is too late. This book is divided into three parts. If you booked annual leave prior to resigning, and the holiday falls during the notice period, your employer should permit you to take the holiday unless there are compelling reasons for you not to do so. Failure or neglect to observe, maintain or otherwise apply Hong Kong Standard on Auditing (HKSA) 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Hong Kong Standards on Auditing, HKSA 230 Audit Documentation, HKSA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment, HKSA 330 The Auditor’s Responses to Assessed Risks, HKSA 500 Audit Evidence, HKSA 505 External Confirmations and the fundamental principle of Professional Competence and Due Care in sections 100.5(c) and 130 of the Code of Ethics for Professional Accountants. Costs: Failure or neglect to observe, maintain or otherwise apply professional standards issued by the Institute. Appointed Chairman, Solicitors Disciplinary Tribunals, 2012, 2013 and 2016; Appointed Secretary, ICC Hong Kong, 2014 - 2015; Elected Executive Committee Member, ICC Hong Kong, 2013 - 2014 ; Member, Hong Kong Law Society Claims Committee; Prior and Present Employment. HK$34,175 Failure or neglect to observe, maintain or otherwise apply professional standards and guilty of professional misconduct. The 1st Respondent failed to withdraw from the audit team, resulting in a significant compromise of the independence of the audits. Penalty: The respondents were the directors of Parker Randall CF (H.K.) The published announcement contained an incorrect statement that the auditor had agreed the financial figures included in the announcement with those in the listed group’s consolidated financial statements. HK$134,394.60(including FRC costs). All rights reserved. 3) Chan Kin Wai. In May 2017, the Practice Review Committee of the Institute issued a direction to the respondent in respect of practice review. 1st Respondent The practice was selected by the Institute for practice review in 2016. Charles also sits as an arbitrator in commercial matters. Deficiencies were found in the audit procedures performed in verifying revenue and costs, accepting bank confirmations, and following up on a, lack of response to confirmation requests sent to the companies’ customers and suppliers, No practising certificate shall be issued for 12 months, ailure or neglect to observe, maintain or otherwise apply, (i) the fundamental principle of integrity in sections 100.5(a), 110.1 and 110.2 of the Code of Ethics for Professional Accountants (Code of Ethics); (ii) the fundamental principle of, professional competence and due care in sections 100.5(c) and 130.1 of the Code of Ethics; and (iii). To learn more visit our. Extract of Reasons and Order. A recent study states that women have a greater exposure to inheritance tax (IHT) compared to men, approximately in the region of £430 million. Removal from the register of CPAs for five years with effect from 9 July 2021, Failure or neglect to observe, maintain or otherwise apply the fundamental principle of integrity in sections 100.5(a), 110.1 and 110.2 of the Code of Ethics for Professional Accountants (Code of Ethics), the fundamental principle of, professional competence and due care in sections 100.5(c) and 130.1 of the Code of Ethics and, Practising certificate be cancelled and no practising certificate shall be issued for 6 months, Failure or neglect to observe, maintain or otherwise apply Hong Kong Standard on Auditing 220, Failure or neglect to observe, maintain or otherwise apply, Statement of Auditing Standards (SAS) 100, expressed unqualified auditor’s opinions on the financial statements of a Hong Kong listed company and its subsidiaries for the three years ended 31 March 1999, 2000 and 2001. Reprimand; and cancellation of practising certificate with effect from 15 October 2017 and no practising certificate shall be issued to the Respondent for 6 months, Penalty: Multiple breaches of auditing standards were found in two audit engagements selected for the review. That’s the lesson an Allen & Overy partner apparently forgot when he was filmed through a window in a clinch with a colleague in the firm’s Spitalfields headquarters. Found inside – Page 214In this regard, the Hong Kong CFA's decision in Solicitor v Law Society81 may be of particular relevance. ... Ordinance82 so far as it barred any appeals against decisions of the Solicitors Disciplinary Tribunal to the CFA. Failure or neglect to observe, maintain or otherwise apply the fundamental principle of professional competence and due care in sections 100.5(c) and 130.1 of the Code of Ethics for Professional Accountants. The 1st respondent was the engagement partner from 2009 to 2013. Practising certificate be cancelled and no practising certificate shall be issued for 16 months. (CHI). The respondents did not perform additional audit procedures to resolve an apparent inconsistency between certain evidence, was the Executive Director, Chief Executive Officer and the Compliance Officer of a Hong Kong listed company. (ENG) CPA Limited, which is now de-registered. 1st Respondent
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