Former Finance Director Removed from Hong Kong's Register of CPAs

A Disciplinary Committee of the Hong Kong Institute of Certified Public Accountants has ordered that the name of Chung Yuen-ling be permanently removed from the register of certified public accountants with effect from 18 October 2011, and no application for readmission for membership by Chung should be approved within a period of eight years due to her conviction in Hong Kong of four offences involving dishonesty.

 

In addition, Chung was ordered to pay the costs of the disciplinary proceedings amounting to HK$46,449.

 

Chung was the finance director of a company listed on the Hong Kong Stock Exchange.

 

In April 2008, she was found guilty of one offence each of conspiracy to offer advantages to agents and conspiracy to commit false accounting of the company's records. She was also found guilty of two offences of conspiracy to steal funds from the company.

 

Chung was sentenced to imprisonment for a total of three years and nine months.

 

After considering the information available, the Institute lodged a complaint against Chung under section 34(1A) of the Professional Accountants Ordinance. A Disciplinary Committee was constituted in December 2010.

 

The Disciplinary Committee found, on Chung's admission, that the complaint against her was proven. Having taken into account the circumstances of the case, the Disciplinary Committee made the order against Chung.

 

Under the Professional Accountants Ordinance, Chung may give notice of an appeal to the Court of Appeal within 30 days after she is served the order, if she is aggrieved by the order made by the Disciplinary Committee under section 35(1) of the ordinance.

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