SHINEWING (HK) CPA Limited 信永中和(香港)會計師事務所有限公司

HKICPA fines Dominic Chan Kam Fuk and his firm HK$50k
HKICPA, 15-Jan-2021
For bad work on the Dec-2018 interim report of Summi (0756). This is the 3rd fine for Mr Chan and his firm in 5 years - a relatively minor cost of doing business. In between the interim results and the interim report, Shinewing resigned as auditor on the purported grounds of being unable to agree fees. So the report contained an "Independent Practitioner's Review Report" as Mr Chan's firm was not the appointed auditor.
HKICPA fines Shinewing (HK) CPA Ltd and Barry Ip Yu Chak HK$35k
HKICPA, 9-Feb-2015
This relates to the 2008 audit of China Water Industry (1129) and is another joke from the HKICPA - the fine of HK$35k is about 1.4% of the HK$2.58m (including an audit fee of $930k) that the company paid Shinewing in 2008.
Former CEO of Climax (0439) charged with fraud and theft
ICAC, 26-Jan-2011
The auditor for the reports for the years ended 31-Mar-2007 and 31-Mar-2008 was Shinewing (HK) CPA Ltd. They took over after Deloitte resigned, after raising a query "on the validity of certain PRC expenditures" in the sum of HK$10.54m. Deloitte referred to its responsibility to consider fraud in an audit of financial statements. Shinewing subsequently gave a clean audit report for both years.
Skin in the game
In part 3 of a series, we look at the often calamitous IPOs produced by B M Intelligence and its conversion into China Bio-med Regeneration Technology, involving a huge mark-up on the acquisition. We also cover an international organisation run out of a cobbler's shop in Las Vegas, and the recent changes of ownership in CBRT, including a CPPC member who is a big fan of the PLA. (23-Jun-2009)

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