Hong Kong Accounting & Financial Reporting Council (AFRC) Reprimands & Issues Total of $151,000 (HKD 1.18 Million) Fines on Rongcheng (Hong Kong) CPA Limited, Lee Wai Chi & Chan Kin Wai for Misconduct, CL Partners (Previous Company Name) Authorised Non-Registered Individuals Lee Wai Chi & Chan Kin Wai to Act as Engagement Partners in 14 Public Interest Entity (PIE) and CL Partners Did Not Have Registered Partner & Registered Control System Responsible for 5 Months in 2022
8th January | Hong Kong
The Hong Kong Accounting & Financial Reporting Council (AFRC) has issued reprimands & total of $151,000 (HKD 1.18 Million) fines on Rongcheng (Hong Kong) CPA Limited, Lee Wai Chi & Chan Kin Wai for misconduct, with CL Partners (Previous company name) authorising non-registered individuals Lee Wai Chi & Chan Kin Wai to act as engagement partners in 14 Public Interest Entity (PIE) and CL Partners did not have registered partner & registered control system responsible for 5 months in 2022. Announcement (6/1/26): “The Accounting and Financial Reporting Council (AFRC) has sanctioned the public interest entity auditor Rongcheng (Hong Kong) CPA Limited (formerly known as CL Partners CPA Limited at the relevant time of the misconduct) (RCHK), Mr Lee Wai Chi (Lee) and Mr Chan Kin Wai (Chan) for their respective contraventions of the relevant registration and notification requirements under the Accounting and Financial Reporting Council Ordinance (Cap. 588). The AFRC has: 1) issued a public reprimand to RCHK, Lee and Chan; 2) imposed pecuniary penalties totalling HK$1,183,000, comprising penalties of HK$808,000 for RCHK, HK$140,000 for Lee and HK$235,000 for Chan; and 3) ordered Lee and Chan to pay the investigation costs and expenses. For details, please click here.”
“ Hong Kong Accounting & Financial Reporting Council (AFRC) Reprimands & Issues Total of $151,000 (HKD 1.18 Million) Fines on Rongcheng (Hong Kong) CPA Limited, Lee Wai Chi & Chan Kin Wai for Misconduct, CL Partners (Previous Company Name) Authorised Non-Registered Individuals Lee Wai Chi & Chan Kin Wai to Act as Engagement Partners in 14 Public Interest Entity (PIE) and CL Partners Did Not Have Registered Partner & Registered Control System Responsible for 5 Months in 2022 “
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Hong Kong Accounting & Financial Reporting Council (AFRC) Reprimands & Issues Total of $151,000 (HKD 1.18 Million) Fines on Rongcheng (Hong Kong) CPA Limited, Lee Wai Chi & Chan Kin Wai for Misconduct, CL Partners (Previous Company Name) Authorised Non-Registered Individuals Lee Wai Chi & Chan Kin Wai to Act as Engagement Partners in 14 Public Interest Entity (PIE) and CL Partners Did Not Have Registered Partner & Registered Control System Responsible for 5 Months in 2022
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