TALENT MANAGEMENT

HK Accountant Removed from Register of of CPAs for 5 Years

A Disciplinary Committee of the Hong Kong Institute of Certified Public Accountants ordered on 7 June 2017 that the name of Wong Kong Yiu, Nigel (membership number F06365) be removed from the register of CPAs for five years with effect from 19 July 2017.

Wong was also ordered to pay costs of the disciplinary proceedings of HK$94,050.

Wong was the sole practicing director and shareholder of a corporate practice. He was in breach of the rules made by the Institute's Council in failing to renew Professional Indemnity Insurance cover of his practice for four consecutive years and to arrange Run-Off cover upon the de-registration of the practice.

Wong also falsely declared to the Institute that the practice had Professional Indemnity Insurance cover when he applied for renewal of the practice's registration for each of the four years.

In addition, Wong's other practice was selected for practice review. Wong failed to comply with a direction of the Practice Review Committee requiring him to cooperate with the practice reviewer to confirm a date for the site visit.

After considering the information available, the Institute lodged complaints against Wong under sub-paragraphs (v), (vi), (ix) and (x) of section 34(1)(a) of the Professional Accountants Ordinance, Cap 50.

The Disciplinary Committee found that Wong failed to comply with the Corporate Practices (Registration) Rules and Corporate Practices (Professional Indemnity) Rules.

For his false declarations, the Committee found that he breached section 110.2 of the Code of Ethics for Professional Accountants and was guilty of dishonorable conduct.

The Committee further found that Wong failed to comply with a direction of the Practice Review Committee without reasonable excuse.

Having taken into account the circumstances of the case, the Disciplinary Committee made the above order against Wong under section 35(1) of the PAO.

Under the ordinance, if the respondents are aggrieved by the order, they may give notice of an appeal to the Court of Appeal within 30 days after he is served the order. 

 

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