Xi Niu Cai Jing·2025-09-08 04:01Core Viewpoint - The Hong Kong Accounting and Financial Reporting Council has reprimanded Wang Tianze, an independent non-executive director of Bank of Communications, and imposed a fine of HKD 416,000 due to audit deficiencies during his tenure at Deloitte [2][3]. Group 1: Regulatory Actions - The Hong Kong Accounting and Financial Reporting Council found multiple deficiencies in the audits conducted by Deloitte and its two project partners for two former Hong Kong listed companies, resulting in fines exceeding HKD 1.9 million [3]. - Wang Tianze was the project partner for the audits of Tianhe Group for the years 2011, 2012, and 2013, where he failed to obtain sufficient appropriate audit evidence and lacked professional skepticism regarding significant misstatement risks related to revenue [3]. Group 2: Company Response - Bank of Communications stated that the regulatory body did not find any intentional, dishonest, or willful misconduct by Wang Tianze, and he has no record of disciplinary action, indicating that this incident will not affect his ability to serve as an independent non-executive director [3]. Group 3: Background Information - Wang Tianze has been serving as an independent director at Bank of Communications since October 2023 and has held various significant positions at Deloitte, including Chief Business Officer and Partner in Risk Consulting [4].