Pan-China Certified Public Accountants Fined Twice in Under a Month, Total Penalties Exceed 10 Million Yuan

Regulation
โดย Jiemian·Read original
Summary · why it matters

Pan-China Certified Public Accountants has been hit with regulatory administrative penalties twice in under a month, with total fines and confiscations exceeding 11 million yuan. Recently, for audit failures in the financial fraud case of Poly Pharm, Pan-China had 2.1 million yuan in business revenue confiscated and was fined 4.2 million yuan, while three signing certified public accountants were fined a combined 1.5 million yuan. Earlier in June, the Xinjiang Securities Regulatory Bureau found that Pan-China failed to perform its duties diligently in the 2022 to 2024 annual report audits of Bayi Iron and Steel, confiscating its business revenue and imposing an equal fine, totaling 4.8113 million yuan. With the two cases combined, Pan-China's practice quality has come under scrutiny, with violations involving failure to maintain professional skepticism over abnormal data and inadequate execution of audit procedures.

Impact on stocks 1

Others▼ · 1 stocks
Xinjiang Ba Yi Iron & Steel Co Ltd
600581
▼ NegativeRegulationrelevance

Pan-China's audit failure in Bayi Iron and Steel's annual reports led to penalties, reflecting negatively on the company's governance.

Off-coverage companies 1

Zhejiang Puli Pharmaceutical Co., Ltd.Private▼ Negative
Regulationrelevance

Pan-China's audit failure in Poly Pharm's financial fraud case led to penalties, reflecting negatively on the company's governance.

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