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Kangmei faked the "aftershock" right in the middle of the Pearl River and was fined again, and the audit "gatekeeper" lost his professional reputation or lifted a new round of self-examination and self-correction in the future. After being severely punished by the Securities and Futures Commission, Guangdong Zhengzhong Zhujiang Certified Public Accountants (special general partnership) (hereinafter referred to as "Zhengzhong Zhujiang") recently received self-disciplinary punishment from the Association of Interbank Dealers. Due to the violation of self-discipline management rules in the inter-bank market in Kangmei Pharmaceutical's related audit work, the Pearl River was severely warned and suspended from debt financing instruments for one year.
insiders bluntly said that this punishment will have a certain impact on the Pearl River, but it will undoubtedly have a deterrent effect on the industry. As the gatekeeper of the capital market, the importance of audit institutions is self-evident, and it is necessary to effectively compact their responsibilities and consolidate the integrity foundation of the capital market.
Zhengzhong Zhujiang was punished again, and the industry called it a new round of self-examination and self-correction.
Judging from the self-disciplinary punishment information of the Association of Dealers, Zhengzhong Zhujiang was punished because of the fraud incident involving Kangmei Pharmaceutical.
According to reports, as the auditor of Kangmei Pharmaceutical's financial statements for 216-218, which is the issuer of debt financing instruments, there are two violations of self-discipline management rules related to the interbank market in the audit work of Kangmei Pharmaceutical. First, during the audit of the annual report in 216 and 217, the corresponding audit procedures were not implemented for the business management system of Kangmei Pharmaceutical, and sufficient and appropriate audit evidence was not obtained; Second, the audit of Kangmei Pharmaceutical's financial statements in 216, 217 and 218 was flawed, and it failed to perform its duties diligently and failed to guarantee the authenticity of the documents issued.
Therefore, the Dealers Association decided to give a serious warning to Zhengzhong Pearl River, suspend its debt financing tools related business for one year, and ordered it to make comprehensive and in-depth rectification for the problems exposed in this incident. In addition to being in the middle of the Pearl River, relevant signature certified public accountants and project managers were also punished to varying degrees.
In fact, because of Kangmei Pharmaceutical's fraud incident, Zhengzhong Zhujiang, as the auditor of its annual financial statements from 216 to 218, has been fined 57 million yuan by the Securities and Futures Commission, which is also called the biggest fine in the audit history.
Wang Jiyue, a senior investment banker, told reporters, "Previously, the punishment of the CSRC involved information disclosure such as refinancing and annual report audit, while the punishment of the dealers' association involved the short-term financing of tickets in the issuance, which was a different regulatory body."
In the view of He Nanye, an investment banker, this punishment undoubtedly has a deterrent effect on the auditing industry. First, warning firms to strengthen audit quality and enhance employees' sense of professional responsibility; The second is to further compact the responsibility of the audit firm, so that the audit can give full play to its due role.
"This time, the Pearl River was punished by the Dealers Association, or it may trigger another round of self-examination and self-correction in the auditing industry." The staff of an accounting firm in the north said bluntly.
It is worth mentioning that the reporter found that on April 29th, Guangdong Institute of Certified Public Accountants issued a notice to organize the self-inspection of the audit quality of accounting firms in the whole province. In order to effectively improve the audit quality of the industry, all firms were required to conduct a comprehensive self-inspection according to the requirements of the documents before June 15th.
what is the impact of suspending related business for one year? Brain drain should be paid attention to
According to official website, Zhengzhong Pearl River, its business includes auditing, securities finance related business, tax planning and agency business, management consulting service, enterprise IT consulting service, etc.
He Nanye said that the relevant business of Zhengzhong Pearl River suspended by the Dealers Association for one year is not allowed to engage in the audit of bond financing projects, and the Dealers Association does not recognize any audit documents issued by the accounting firm. He Nanye said that for an accounting firm, suspending the debt financing business for one year will hit a lot and have an impact on the income of the firm.
Wang Jiyue told reporters that most of the businesses related to debt financing instruments are attached to the annual review of large companies, and there are very few cases where debt financing instruments are audited without other annual reviews. In his view, suspending this business for one year will have an impact on the Pearl River, but it is relatively small. "The impact of the loss of personnel in the Pearl River due to the Kangmei incident is relatively greater." It is understood that Ruihua was investigated for the Kangdexin incident, which not only triggered a domino effect, but also caused many listed companies not to renew their employment, and also caused a large loss of staff in the club.
According to the notice of CPA transfer issued by official website, Guangdong Institute of Certified Public Accountants, the reporter found that there were 73 people involved in the transfer of CPA in the Pearl River in November and December last year. In the first three months of this year, there were 24 people involved in the transfer of certified public accountants in the Pearl River.
According to the data of China Institute of Certified Public Accountants, Zhengzhong Zhujiang ranked 22nd among the top 1 accounting firms in 218. Ranked 26 th in the information of the top 1 accounting firms in 219.
Audit institutions need to do a good job as gatekeepers in the capital market and further increase penalties
A South China accounting firm official said that the audit industry is very important, and all investment decisions depend on auditors' data. If the data is mixed with water, the business logic will be chaotic, including financing, investment, and even secondary market trading. Therefore, it is necessary for audit institutions to effectively compact their responsibilities and do a good job in the capital market.
However, some accounting firms in the auditing industry have related problems. He Nanye said: First, the audit is a mere formality, and the enterprise has not been fully verified and the necessary audit procedures have not been fulfilled, resulting in the audit results not having credibility; Second, the auditors' professional quality and sense of responsibility are poor, and they have not fully performed their duties and responsibilities for the audit work; Third, the trend of young employees in audit firms is obvious, and their ability and experience need to be improved.
The staff of the above-mentioned Northern Accounting Firm admitted frankly that auditing is the gatekeeper of the capital market, and if the gatekeeper is not independent or competent professionally, the door cannot be seen. "The discovery of the problem is not found to be incompetent; It is an attitude problem to find a problem but issue an inappropriate audit report for other reasons. "
He Nanye suggested that in auditing, firstly, a stronger risk control organization should be established internally to control the quality of audit projects more strictly; Second, the management of project team members should be more refined, and auditors should be fully constrained; Third, the supervision should increase the punishment, and give heavier punishment to the relevant personnel of risk events, so as to enhance employees' attention and sense of responsibility for audit work.
open Sina news.