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2026
Ms Lee Si Ye
UPON FINDING that Ms Lee Si Ye, former CA (Singapore), had contravened Rule 67, read with Rules 64.1, 65.1 and 65.3 of the Institute (Membership and Fees) Rules, in that she had been found to be in breach of the directors’ duties by the Singapore High Court in relation to the fraudulent nickel trading scheme, and was ordered to be jointly and severally liable for the total sum of S$593 million, US$192.2 million and 880,000 euros to Envy group of companies consisting of Envy Global Trading, Envy Asset Trading, Envy Management Holdings and their three liquidators.
The Disciplinary Committee ordered:
- That pursuant to Rule 137.1.3 of the Institute (Membership and Fees) Rules, she be fined the sum of $5,000.
- That pursuant to Rule 137.1.9 of the Institute (Membership and Fees) Rules, she be prohibited from applying for readmission as a member of the Institute for a period of five (5) years, with effect from the date of the Disciplinary Order.
Ms Esther Chng
UPON FINDING that Ms Esther Chng, CA (Singapore) and Public Accountant, had contravened Rules 64.1 and 64.4 of the Institute (Membership and Fees) Rules read with Subsection 111.1, 115.1, 320.7 of the Code of Professional Conduct and Ethics under the
Third Schedule of the Institute (Membership and Fees) Rules, in that she had facilitated the transfer of clients between audit firms by positioning her firm as an intermediary to obtain and provide professional clearance, despite not having been formally
appointed as the incoming auditor.
The Disciplinary Committee ordered:
- That pursuant to Rule 137.1.3 of the Institute (Membership and Fees) Rules, she be fined the sum of S$5,000.
- That pursuant to Rule 137.1.4 of the Institute (Membership and Fees) Rules, she be censured.
- That pursuant to Rule 137.1.5 of the Institute (Membership and Fees) Rules, she be required to complete the prescribed training courses on ethics by 6 February 2027 at her own expenses.