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2012, Feb 08

KPMG Manager Charged with Bribery

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KPMG Manager Charged with Bribery

by CFO Innovation Staff, 09 April 2010
topics:
Accounting and Regulations Auditing
tags:
bribery graft and corruption Hontex Hontex International Holdings Independent Commission Against Corruption KPMG malpractice
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Hong Kong's Independent Commission Against Corruption has charged a senior manager at KPMG with bribery in connection with the controversy hounding Hontex International Holdings, says the South China Morning Post.

 

KPMG was the auditor of the Fujian sports clothing firm, notes the Post.

 

Quoting the ICAC, the newspaper says Leung Sze-chit, a senior manager at KPMG Hong Kong, offered a HK$100,000 bribe to a subordinate "as a reward for preparing the accountant's report for the global offering of Hontex."

 

In a statement obtained by the Post, KPMG states it received information about the alleged bribe paid by Leung through its internal whistle-blowing system.

 

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Manager at KPMG accused of bribery
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