Tag Archives: accounting

EY Appeals Hong Kong Court Order To Produce Audit Working Papers Notwithstanding Holding That EY ‘Deliberately Withheld From SFC’ and State Secrets Not at Issue

By Joan Hon on Posted in Securities Litigation & Enforcement
More than a year ago, we began following the so-called Ernst & Young (“EY”) State Secrets Case in Hong Kong.  On 23 May 2014, the High Court of Hong Kong finally concluded that there was no “reasonable excuse” for EY’s failure to comply with Securities and Futures Commission (“SFC”) notices seeking information and documents, and … Continue Reading

Securities and Exchange Commission (“SEC”) Charges Chinese Affiliates of Five Large Accounting Firms for Failing to Produce Work Papers

By Jennifer Achilles, John Tan and Joan Hon on Posted in Securities Litigation & Enforcement
This post was also written by Terence Healy. Yesterday, the SEC instituted administrative proceedings against the Chinese affiliates of the “Big Four” accounting firms and BDO related to audits they conducted at nine Chinese companies. At issue is the accounting firms’ “willful refusal” to provide audit work papers and other materials the Commission seeks in its … Continue Reading
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