CICC releases the 2025 annual auditor performance evaluation report, with EY receiving recognition

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Cajtv data  China International Capital Corporation Limited (CICC) recently released an assessment report on the performance of accounting firms in their duties for the 2025 fiscal year. The report shows that the accounting firm appointed by the company, Ernst & Young Hua Ming Certified Public Accountants (special general partnership) and Ernst & Young (together “Ernst & Young”), performed well in the audit and related services for the 2025 fiscal year.

According to the assessment, in 2025 Ernst & Young provided CICC with comprehensive audit services: it carried out agreed-upon procedures on the financial statements for the first quarter and the third quarter, performed review procedures on the interim financial statements, and conducted an audit of the annual financial statements. In addition, Ernst & Young Hua Ming also audited the effectiveness of the internal controls over the company’s 2025 financial reporting.

The assessment report summarizes Ernst & Young’s performance across multiple dimensions. In terms of independence and professional ethics, Ernst & Young followed requirements for independence and objectivity and found no matters that would affect independence. In terms of professional competence, Ernst & Young Hua Ming has sufficient capability to assume professional risks; its professional risk fund and cumulative compensation limit under professional insurance exceed RMB 200 million. Although Ernst & Young Hua Ming and some of its practitioners have been subject to regulatory measures since 2023, the assessment concludes that these do not affect their ability to continue practicing. In carrying out audit work, Ernst & Young developed a risk-oriented audit plan, assigned an experienced dedicated team, and maintained effective communication with the company’s management. In quality management and information security, Ernst & Young established relevant systems and control procedures and found no violations of the company’s information security requirements.

CICC’s final assessment conclusion is that, during its practice in the 2025 fiscal year, Ernst & Young maintained independence and professional prudence; team staffing and work input met the needs; it completed the audit work on schedule and issued audit reports, and issued audit opinions fairly.

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