Hong Kong regulator sanctions PwC and partners

The Accounting and Financial Reporting Council (AFRC) of Hong Kong has taken disciplinary action against PricewaterhouseCoopers (PwC) and two individuals associated with the firm for their roles in audit deficiencies. AFRC’s sanctions relate to the audits of Dynasty Fine Wines Group and its subsidiaries for the financial years ending December 2010 and 2011. The council issued reprimands to PwC, Cheng Kwong On, the engagement partner for the audits in question, and Kong Ling Yin, Raymond, the engagement q ...