Core Viewpoint - The Hong Kong Institute of Certified Public Accountants has imposed penalties on ShineWing Certified Public Accountants Limited and its two directors for multiple audit deficiencies related to the financial statements of a listed company, Chuangyi Group (Holdings) Limited, for the year ending March 31, 2017 [1] Group 1 - The audit deficiencies included a lack of due diligence in evaluating the work of valuation experts and a failure to apply professional skepticism to management's assumptions regarding the valuation of technical assets and goodwill impairment testing [1] - The total fines imposed amount to HKD 600,000, which includes HKD 300,000 for ShineWing, HKD 210,000 for director Chen Xinting, and HKD 90,000 for director Yan Xinghan [1]

Core Viewpoint - The resignation of independent director Yang Xiong from three listed companies has raised concerns about his alleged disappearance, bringing attention to Beijing Dehao International, the accounting firm he leads [1][2][5]. Group 1: Resignation of Yang Xiong - Yang Xiong, aged 59, has over 30 years of experience in the accounting industry and has held key management positions in various firms before joining Beijing Dehao International [2][6]. - In a span of one week, Yang resigned from his roles as independent director in three companies, citing "personal reasons" [2][3]. - His absence from board meetings, particularly the lack of prior notice or delegation, is unprecedented and has led to speculation about his well-being [1][5]. Group 2: Impact on Beijing Dehao International - Beijing Dehao International is responsible for auditing over 120 companies for the 2024 fiscal year, ranking 13th among accounting firms in terms of the number of audits [1]. - The firm generated over 190 million yuan in revenue from annual reports and internal control audits for the same period [1]. - The ongoing situation surrounding Yang Xiong's status may affect the firm's reputation and operational stability [11]. Group 3: ST Changyuan's Decision - ST Changyuan, a company under risk warning, has decided to retain Beijing Dehao International as its auditor for the 2025 fiscal year despite internal opposition [1][7]. - The decision was made with a board vote of 9 in favor and 0 against, later corrected to 7 in favor and 2 against, indicating dissent regarding the choice of auditor [7][9]. - Concerns were raised about the quality of the audit due to the firm's previous regulatory issues, which could impact the company's financial reporting and internal control effectiveness [7][8].

Core Points - The Henan Provincial High People's Court has updated the bankruptcy administrator roster, allowing 869 institutions to participate in bankruptcy case management [1] - The new roster replaces the previous one published in 2022, and existing appointed administrators will continue their duties for cases designated before the new roster's announcement [1] Summary by Category Legal Framework - The update follows the "Enterprise Bankruptcy Law of the People's Republic of China" and relevant regulations from the Supreme People's Court [1] - The evaluation group for the roster was formed based on principles of openness, fairness, and justice [1] Roster Details - A total of 869 institutions have been included in the new bankruptcy administrator roster [1] - The roster is publicly available and allows institutions to participate in the selection of bankruptcy administrators [1] Institutional Breakdown - The roster includes various law firms and accounting firms categorized into different levels, with specific names listed for each category [2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35]

Core Insights - Deloitte forecasts that the Hong Kong Special Administrative Region government will record a surplus of approximately HKD 15.6 billion for the current fiscal year, with fiscal reserves expected to increase to HKD 669.9 billion by the end of March 2026 [1] - The actual deficit for the Hong Kong government from April to September 2025 is projected at HKD 103.2 billion, a significant reduction compared to the same period last year, primarily due to increased stock stamp duty revenue and bond issuance, alongside a faster economic growth driving up operational income and various tax revenues [1] - Deloitte anticipates that the Hong Kong government may achieve fiscal balance in the 2025/2026 fiscal year [1] Recommendations for Government Budget - Deloitte suggests three key expectations for the upcoming government budget, including the development of the Northern Metropolis as a new growth engine for Hong Kong [1] - Strengthening Hong Kong's capital markets is highlighted as a priority [1] - Maintaining Hong Kong's competitive advantage as a regional asset and wealth management center, such as providing up to 50% investment tax credits for companies investing in the Northern Metropolis, optimizing taxes to promote dual listings, and encouraging capital investments [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has imposed administrative penalties on Liananda for failing to perform due diligence in its auditing services for Guangdong Super Hua Technology Co., Ltd, resulting in false statements in the audit reports [1] Group 1: Penalties and Actions - Liananda was ordered to rectify its practices and had its audit business income of 3,018,869.84 yuan confiscated, along with a fine of 9,056,609.52 yuan [1] - The responsible signing accountants, Zhang Zhihui, Zhou Achun, and Ou Yunfei, received warnings and fines of 500,000 yuan, 400,000 yuan, and 300,000 yuan respectively [1]

Core Viewpoint - The article discusses the "Measures for Promoting the High-Quality Development of the CPA Industry in Guangdong Province," which aims to enhance the quality and competitiveness of CPA firms through various strategies and regulatory improvements [1]. Group 1: Support for CPA Firms - The measures encourage CPA firms to undergo market-oriented mergers and reorganizations to consolidate resources, enhance brand strength, and achieve scale and talent advantages [2][3]. - There is a focus on supporting the growth of CPA firms by integrating them into the private economy support framework and creating a platform for high-end accounting services [3]. - CPA firms are encouraged to provide specialized services and adopt diversified business strategies to build core competitiveness in niche markets [3]. Group 2: Expansion of Service Areas - The measures promote the integration of traditional audit services with high-end services such as financial planning and consulting, as well as data governance and digital transformation [4]. - CPA firms are urged to offer specialized services to technology companies, including intellectual property assessments and technology financial services [4]. - There is an emphasis on increasing the number of CPAs involved in bankruptcy management and supporting rural revitalization efforts [4]. Group 3: Regulatory Enhancements - The measures aim to strengthen the supervision and management of CPA firms, optimizing the selection mechanism for CPA firms based on quality rather than price [5][6]. - A professional liability insurance mechanism is to be improved, encouraging insurance providers to expand their offerings for CPA liability insurance [6]. - The measures also focus on defining the judicial responsibilities of CPA firms and enhancing the regulatory framework to address financial fraud and misconduct [6][7]. Group 4: Competition and Evaluation - The measures seek to curb unfair competition by exploring a pricing mechanism for services and monitoring service fee reporting [7]. - A comprehensive evaluation system is to be established to guide CPA firms in maintaining quality standards and enhancing risk awareness [7].

Core Viewpoint - The company announced the resignation of Deloitte as its auditor, effective from November 12, 2025, and appointed Ernst & Young as the new auditor to fill the vacancy until the next annual general meeting [1] Group 1 - Deloitte has resigned from its position as the company's auditor, effective November 12, 2025 [1] - The board of directors has resolved to appoint Ernst & Young as the new auditor based on the recommendation of the audit committee [1] - Ernst & Young will serve as the auditor until the conclusion of the company's next annual general meeting [1]

在本公司审核委员会(审核委员会)建议下，董事会已议决委任容诚(香港)会计师事务所有限公司(容诚(香 港))为本公司核数师，自2025年11月12起生效，以填补中汇安达辞任后的临时空缺，任期直至本公司下 届股东周年大会结束为止。 至源控股(00990)发布公告，经考虑(包括但不限于)对未来审计服务的需求、中汇安达会计师事务所有限 公司(中汇安达)自2015年12月17日起担任核数师的任期以及中汇安达就截至2025年12月31日止财政年度 建议的审计费用后，本公司建议更换核数师。 ...

Core Viewpoint - The Hunan Securities Regulatory Bureau issued a warning letter to Shenzhen Tangtang Accounting Firm and related personnel due to multiple issues found during the special verification of Hengli Industrial Development Group Co., Ltd.'s 2023 annual revenue deduction [1] Group 1: Business Conduct Issues - The firm failed to obtain a written statement from Hengli Industrial's management regarding the responsibility for the preparation of the revenue deduction situation table [2] - There was a lack of timely archiving of modified strategies and plans, and specific procedures to address significant misstatement risks were not listed [3] - The risk identification and assessment were inadequate, with contradictions in the risk assessment documents [4] Group 2: Substantive Procedures Deficiencies - The firm did not perform appropriate further procedures to assess whether the revenue recognition conditions were met when actual installation quantities were found to be lower than contractually agreed [5] - There were deficiencies in confirmation procedures, including failure to confirm relevant income situations and inadequate documentation of confirmation details [6] - Interview procedures were lacking, with some questionnaires missing signatures and identification materials, and important stakeholders were not interviewed [7] Group 3: Inappropriate Verification Conclusions - The conclusion that equipment installation income was "non-occasional" was deemed inappropriate, as the firm failed to recognize the occasional nature of the related income [8] - The firm did not deduct non-standard opinion income as required by the Shenzhen Stock Exchange's guidelines [9] - The conclusions drawn lacked sufficient evidence, failing to reduce audit risks to an acceptable low level [10] Group 4: Internal Management Failures - Project partner Zhu Zheng did not participate in the special verification work, and the verification report was issued without his review and confirmation [12] - The firm has a history of insufficient audit evidence, as seen in a previous case involving Huqing Gaobao Company, leading to administrative penalties [14]

Group 1 - The core viewpoint of the articles highlights the critical role of Tianheng Accounting Firm as an independent third-party auditor in maintaining the integrity of the capital market by refusing to alter its negative opinion in the internal control audit report of Nanwei Co., Ltd [1][2] - In early 2023, the China Securities Regulatory Commission disclosed an administrative penalty against Nanwei Co., Ltd's actual controller, Li Ping, due to non-operational fund occupation issues, leading Tianheng to issue a negative internal control audit report for the year 2022, resulting in the company's stock being placed under risk warning and suspension [1] - Tianheng identified significant deficiencies in Nanwei's internal controls, which failed to prevent or timely detect and correct the violations, thus demonstrating the importance of independent audits in signaling financial risks to the market [2] Group 2 - Tianheng's commitment to professional integrity and independence is emphasized, showcasing the necessity for such qualities in intermediary institutions to ensure the healthy operation of the capital market [2] - The firm conducted thorough examinations of Nanwei's accounting records, bank statements, and internal approval documents to identify abnormal fund flows, thereby providing essential information for market participants and regulatory bodies [2] - The article advocates for more firms like Tianheng to act as reliable guardians of the capital market, reinforcing the need for professionalism, neutrality, and adherence to ethical standards in the auditing industry [2]