Hong Kong's Financial Regulatory Bureau has fined Deloitte and its two partners HK$1.92 million, citing audit deficiencies.

Zhtng Cijng APP learned that on August 28th, the Hong Kong Institute of Accountants and Financial Reporting (HKIFR), also known as AFRC, found multiple audit deficiencies related to revenue recognition and other regulatory violations in the audits of two former listed companies in Hong Kong. As a result, Deloitte Touche Tohmatsu (Deloitte), Wang Tianze (Mr. Wang), and Mai Zhilong (Mr. Mai) were disciplined and fined a total of 1.92 million Hong Kong dollars.