Hong Kong Accounting & Financial Reporting Council (AFRC) Fines Auditor BDO, Engagement Partner (Alfred Lee) & Engagement Quality Control Reviewer (Pak Tak Lun Amos) Total of $58,300 (HKD 455,000) for Breaching Audit Standards in Audit of Formerly Hong Kong-Listed Company Vestate Group & Subsidiaries
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Hong Kong Accounting & Financial Reporting Council (AFRC) Fines Auditor BDO, Engagement Partner (Alfred Lee) & Engagement Quality Control Reviewer (Pak Tak Lun Amos) Total of $58,300 (HKD 455,000) for Breaching Audit Standards in Audit of Formerly Hong Kong-Listed Company Vestate Group & Subsidiaries
29th August | Hong Kong
The Hong Kong Accounting & Financial Reporting Council (AFRC) has fined auditor BDO, Engagement Partner (Alfred Lee) & Engagement Quality Control Reviewer (Pak Tak Lun Amos) a total of $58,300 (HKD 455,000) for breaching audit standards in audit of formerly Hong Kong-listed company Vestate Group & subsidiaries.Announcement (21/8/25): “The Accounting and Financial Reporting Council (AFRC) has sanctioned the following PIE auditor and two individuals for multiple breaches of auditing standards in relation to the audit of a former Hong Kong listed company, Vestate Group Holdings Limited (in Liquidation) (Company), and its subsidiaries (collectively, Group) for the year ended 31 March 2018 (2018 Audit): 1) BDO Limited (registration number: M0200) (BDO); 2) Mr Alfred Lee (Lee), engagement partner for the 2018 Audit (together with BDO, Auditor); and 3) Mr Pak Tak Lun Amos (Pak), engagement quality control reviewer for the 2018 Audit … … The AFRC has (a) issued a public reprimand to each of BDO, Lee and Pak (collectively, Regulatees), (b) imposed pecuniary penalties totalling HK$455,000, comprising penalties of HK$245,000 for BDO, HK$154,000 for Lee and HK$56,000 for Pak and (c) directed each of Lee and Pak to undertake additional Continuing Professional Development (CPD) hours.”
“ Hong Kong Accounting & Financial Reporting Council (AFRC) Fines Auditor BDO, Engagement Partner (Alfred Lee) & Engagement Quality Control Reviewer (Pak Tak Lun Amos) Total of $58,300 (HKD 455,000) for Breaching Audit Standards in Audit of Formerly Hong Kong-Listed Company Vestate Group & Subsidiaries “
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Hong Kong Accounting & Financial Reporting Council (AFRC) Fines Auditor BDO, Engagement Partner (Alfred Lee) & Engagement Quality Control Reviewer (Pak Tak Lun Amos) Total of $58,300 (HKD 455,000) for Breaching Audit Standards in Audit of Formerly Hong Kong-Listed Company Vestate Group & Subsidiaries
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