HKICPA fines KPMG, June Yu Yuk Ping & Yu Wai Sum HK$1m total, plus HK$5m costs
HKICPA, 23-Sep-2021
For bad audits of China Forestry (ex-0930) for 2006-2009. They win our "Can't See the Forest for the Trees" award. The Financial Reporting Council didn't start investigating until 2012, and its Audit Investigation Board reported back in 2016. The HKICPA then launched this case in 2017. Meanwhile China Forestry last traded with a market cap of HK$9.03bn in 2011 and went into liquidation in 2015.