Kai Yin YIP

Member’s name: Mr Kai Yin YIP CPA
Date of Hearing: 12 August 2014
Division: Hong Kong
Tribunal: Disciplinary Tribunal

On 12 August 2014 the Disciplinary Tribunal determined that as set out in Article 39(a)(ii)F of the Constitution Mr Kai Yin YIP was the subject of an adverse finding in respect of a Decision and Orders of the Hong Kong Institute of Certified Public Accountants (HKICPA) on 3 October 2013.

The Disciplinary Committee of the HKICPA determined that Mr Yip had breached section 34(1)(a)(vi) of the Professional Accountants Ordinance and the Code of Ethics for Professional Accountants when issuing a letter certifying that the paid up capital and net asset value of a limited company had fulfilled the minimum requirements of HK$100,000, when he knew it had not.

The Disciplinary Committee of HKICPA ordered that Mr Wu be reprimanded, pay a penalty of HK$60,000 and that he pay costs of HK$21,532.

Mr Yip attended the Disciplinary Tribunal Hearing and admitted the Complaint.

Penalty and costs 

The Disciplinary Tribunal found the Complaint sustained and imposed the penalty of a severe reprimand.

Mr Yip was ordered to pay costs of HK$4050.20.