Sai Keung Chow

Member’s name: Sai Keung Chow
Date of Hearing: 24 September 2026
Division: Hong Kong
Tribunal: Disciplinary

On 24 September 2026 the Disciplinary Tribunal found Mr Sai Keung Chow breached Article 36(a) of CPA Australia’s 11 May 2022 Constitution (the Constitution) in that he had “committed, participated in or been involved with an Adverse Event” as defined in:

Complaint 1

Article 76(h) of the Constitution as having “became the subject of a final adverse finding in relation to the Member’s conduct, competence or recognition by any Court, professional body, statutory or other regulatory authority in any jurisdiction” in relation to a sanction imposed upon Mr Chow by the Accounting and Financial Reporting Council (AFRC) of Hong Kong for the China Evergrande Group audits for the years ended 31 December 2019 and 31 December 2020.

Background

The AFRC found multiple audit deficiencies in each of the Evergrande Audits performed for 2019 and 2020. The Evergrande Audits were conducted by PwC and Mr Chow was the Quality Control System Responsible Person (QCSRP). Mr Chow was found by the AFRC to have failed to discharge his duties and failed to meet the standard of care expected of a reasonable competent QCSRP. The AFRC concluded that Mr Chow engaged in serious misconduct that breached professional and ethical standards.  Mr Chow was publicly reprimanded and had a pecuniary penalty of HK$5 million imposed.  The deficiencies were particularly serious and egregious, raising substantial concerns regarding adherence to fundamental professional and ethical standards.

Decision

Mr Chow did not attend the Disciplinary Tribunal, however provided written submissions in which he admitted the Complaint. The Disciplinary Tribunal found the written evidence presented by CPA Australia compelling and sustained the Complaint. 

Penalty and Conditions

The Disciplinary Tribunal found that Mr Chow did not appear to understand the nature of his responsibilities or the impact of his behaviour on the wider public and the accounting profession.  He exhibited serious misconduct, failed to discharge his duties as QCSRP and neglected to provide oversight of the effectiveness of the quality control processes of the audit firm. He took no responsibility for the outcome of the audit and showed no insight into the client company’s systemic failures. The Disciplinary Tribunal determined that Mr Chow failed to understand his obligations as a Member of CPA Australia and imposed the following penalties:

• Forfeiture of membership; not eligible for readmission for 8 years.
• Lowering of his membership status from Fellow, never to be reinstated.  

Costs

The Member was ordered to pay CPA Australia’s costs of AUD$10,642.50.