AFRC reprimands and imposes pecuniary penalty of HK$80,000 against CCTH CPA Limited for delay in fulfilling a requirement issued by the AFRC

28 Nov, 2023

The AFRC has reprimanded and imposed a pecuniary penalty of HK$80,000 against CCTH CPA Limited (CCTH) for its failure to complete corrective actions within the timeframes specified in a requirement issued by the Inspection Department of the AFRC.

CCTH’s failure to comply with the deadlines in the requirement is a serious matter, and increases the risk of non-compliance with relevant professional standards in its future engagements.

CCTH facilitated an early resolution of this case by way of early admission to the misconduct and settlement initiation. In recognition of CCTH’s proactive cooperation, the AFRC has reduced the pecuniary penalty imposed on CCTH in accordance with the Guidance Note on Cooperation with the AFRC.

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