THE EY HONG KONG WATER PAPERS CASE
July 2nd, 2014
In 2010, Ernst & Young (EY) Hua Ming, the auditing company’s affiliate in Beijing, resigned as auditor of Standard Water Ltd, a China-based water treatment company, citing inconsistencies in Standard Water’s documents following its attempt to go public. Standard Water then withdrew its initial public offering (IPO) application in Hong Kong.When the Hong Kong’s Securities & Futures Commission asked for the audit documents, EY had claimed Chinese secrecy laws prevented it from doing so, after which the commission sued EY. The commission is cracking ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.