Prism Hong Kong, Kyaw Sai Hong and Yam Wai Man were sanctioned for conducting various public-interest-entity engagements in 2023 without required registrations, according to a statement from Hong Kong’s Accounting and Financial Reporting Council.
- Imposed penalties totaling HK$353,500 ($45,389), comprising penalties of HK$210,000 for Prism, HK$105,000 for Kyaw and HK$38,500 for Yam
- Prism authorized Kyaw and Yam to act as engagement partners or engagement quality control reviewers in audit engagements
- Kyaw and Yam acted in such capacities without the required registrations
- NOTE: Public interest entity refers to a listed corporation the listed securities of which comprise at least shares or ...