The Securities Regulatory Commission's Liaoning Supervisory Authority issued a penalty decision to push KPMG, one of the top four international accounting firms, to the front of the capital market. On September 30, the Liaoning Securities Regulatory Bureau disclosed the penalty results and opened an investigation into KPMG Huazhen's lack of diligence and due diligence in the Shenyang Chemical Annual Report Audit Project. KPMG Huazhen was ordered to rectify illegal acts, seizing 7.255 million yuan of business revenue and being fined 21.765 million yuan, totaling a total of 29.02 million yuan; the two signed certified public accountants were also individually fined 500,000 yuan and 200,000 yuan, respectively.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.