PCAOB Revokes Hong Kong Accounting Firm's Registration, Bars Managing Partner

PCAOB Revokes Hong Kong Accounting Firm's Registration, Bars Managing Partner

Centurion ZD CPA & Co. and its owner Chan Kam Fuk were sanctioned for violating U.S. auditing and quality control rules and standards related to audits of companies based in China, including Chinese coffee chain Luckin Coffee Inc.

PCAOB permanently revokes Hong Kong company's registration over audit violations

The US Public Company Accounting Oversight Board (PCAOB) has permanently revoked the registration of Hong Kong-based Centurion ZD CPA & Co and barred its owner, Chan Kam Fuk, for violating audit rules.   The action is related to their audit work for companies operating in China, including Luckin Coffee.  Centurion ZD CPA & Co and Chan have been sanctioned with a $75,000 civil penalty for failing to perform adequate risk assessments and obtain su…