梧桐树下V·2025-12-14 23:06Core Viewpoint - The Jiangsu Securities Regulatory Bureau imposed a significant penalty on Yongtuo Accounting Firm for failing to perform due diligence in auditing the annual reports of Hongda Xingye, Hengjiu Technology, and Kelin Environmental Protection, resulting in a total fine of 57.17 million yuan and the confiscation of 8.11 million yuan in business income [1][31]. Group 1: Yongtuo Accounting Firm's Violations - Yongtuo Accounting Firm was found to have violated professional standards and ethical codes, losing independence and failing to take appropriate audit measures to address fraud risks, leading to substantial defects in substantive procedures [1][31]. - The firm issued audit reports containing false records for Hongda Xingye, Hengjiu Technology, and Kelin Environmental Protection, violating Article 163 of the Securities Law [1][31]. - Specific failures included not objectively assessing significant misstatement risks due to fraud and not maintaining professional skepticism regarding abnormal audit evidence related to revenue [1][31]. Group 2: Audit Process Deficiencies - Yongtuo failed to obtain reliable financial data from subsidiaries, relying instead on potentially manipulated data from the parent company [15][16]. - There were significant discrepancies in revenue figures across different audit documents, indicating a lack of professional skepticism and appropriate audit responses [17][18]. - The firm did not adequately address low response rates to accounts receivable confirmations, which were linked to fraudulent activities [22][23]. Group 3: Quality Control Issues - The project team did not follow internal review procedures, and the quality control reviewer failed to identify significant issues during the audit process [29][30]. - The project partner did not supervise or guide team members effectively, leading to a lack of adequate audit evidence to support the issued reports [29][30]. - The quality control reviewer did not address or follow up on critical issues raised during the review process, resulting in unaddressed audit deficiencies [29][30]. Group 4: Impact on Related Companies - Hongda Xingye was found to have engaged in fraudulent activities, including altering the use of raised funds and reporting false income and profit figures [10][11]. - Hengjiu Technology was implicated in inflating revenue and profits through unfulfilled contracts, which were not adequately scrutinized by Yongtuo [33][34]. - Kelin Environmental Protection's financial statements were also affected by Yongtuo's inadequate audit practices, leading to significant misstatements [1][31].