KPMG HK employee faces bribery charge
Hong Kong senior manager allegedly paid colleague HK$100,000 over Hontex IPO
Hong Kong senior manager allegedly paid colleague HK$100,000 over Hontex IPO
A KPMG Hong Kong employee has been charged with bribing a colleague over the
IPO of a Chinese fabric maker.
The Independent Commission Against Corruption claims that Leung Sze-chit, a
32 year-old senior manager at the firm offered a subordinate HK$100,000 over the
floatation of Hontex International, which raised HK$1bn in December last year.
The firm uncovered the alleged payment through its internal hotline,
suspended the staff member and reported the matter to the authorities. KPMG is
co-operating fully with the subsequent inquiries, reports the
FT.
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe recent advisory cuts at KPMG will affect around 110 staff members in the UK Read More...
View articleAfter cooperating with the inquiry, the firms and partners received a reduction in fines Read More...
View articleThe sanctions relate to the firm’s audit of Conviviality PLC between 2017 and 2018 Read More...
View articleAccountancy Age spoke with KPMG senior partner for Scotland James Kergon, who outlined his background and the key goals for his tenure Read More...
View articleFollowing the release of the Brydon report, in which Sir Donald Brydon has made 64 recommendations on how to improve the troubled UK audit industry, A...
View articleIn recent weeks, rumours around the Big Four firm potentially culling a significant number of UK partners have swirled, with the Financial Times repor...
View article75% of FTSE 350 audits assessed as good or requiring limited improvements, failing to meet the FRC's 90% target Read More...
View articleKPMG will take on audit responsibilities from 1 January 2018, with shareholders due to vote on the firm’s appointment in April next year at Croda’s An...
View article