德勤及两名会计师被公开谴责！罚款191万！

Core Viewpoint - The Hong Kong Institute of Certified Public Accountants (HKICPA) has imposed penalties on Deloitte and two partners for multiple audit deficiencies related to revenue recognition in two former Hong Kong listed companies, Tianhe Chemical Group and Sander International Group, highlighting the importance of professional skepticism in auditing practices [2][4][5]. Group 1: Audit Deficiencies and Penalties - HKICPA publicly reprimanded Deloitte, partner Wang Tianze, and partner Mai Zhilong, imposing a total fine of HKD 1,912,000, which includes HKD 1,160,000 for Deloitte, HKD 416,000 for Wang, and HKD 336,000 for Mai [4][5]. - The penalties are part of the first disciplinary cases completed through cross-border regulatory cooperation with the Ministry of Finance of the People's Republic of China, allowing HKICPA to access audit working papers stored in mainland China [4][5][6]. - The audit deficiencies included failures in revenue recognition and external confirmation procedures, leading to insufficient audit evidence and a lack of professional skepticism regarding significant misstatement risks related to revenue [4][5][6]. Group 2: Specific Findings on Tianhe Chemical Group - Tianhe Chemical Group, primarily engaged in the production and sale of fine chemical products, reported sales of RMB 3.2 billion, RMB 4.09 billion, and RMB 4.84 billion for the years 2011, 2012, and 2013, respectively, accounting for 95.3%, 97.5%, and 96.1% of the group's total sales [5][6]. - The audit for Tianhe Group identified revenue recognition as a significant risk area, with potential for material misstatement due to fraud [5][6]. - Specific deficiencies included inadequate assessment of internal controls over revenue cycles, failure to obtain sufficient audit evidence regarding the effectiveness of operations, and misjudgment of internal controls as effective and reliable [6][9]. Group 3: Specific Findings on Sander International Group - Sander International Group, involved in water supply and sewage treatment contracting, reported revenues of RMB 2.45 billion and RMB 2.88 billion for 2012 and 2013, respectively, representing 92.2% and 91.8% of total revenue [7][9]. - The audit for Sander International revealed significant misstatement risks related to revenue and bank balances, with deficiencies in handling revenue from contracting projects and issuing external confirmation letters for bank balances and trade receivables [7][9]. - The HKICPA emphasized the importance of external confirmation letters as a key audit procedure to verify the financial information provided by the audited companies [7][9].