Steve Chan

Core Focus: Audit Quality, Methodology, and Risk Management (ISQM 1) Responsible for driving technical excellence and audit quality across the firm, working closely with Head of Audit and Technical Partners to implement robust risk management systems and support engagement teams. Key Responsibilities: - Audit Quality Management: Overseeing the design, implementation, and operation of the firm’s System of Quality Management (SoQM) in compliance with ISQM 1. - Technical Consultation: Acting as a subject matter expert for audit teams regarding complex audit methodology, ethics, and independence requirements. - Risk & Methodology: Developing and updating firm-wide audit methodology and guidance to address emerging regulatory risks. Key Achievements: - RCA & Monitoring Framework: Formalised the firm’s Root Cause Analysis and monitoring process; introduced a risk-based assessment model for PIEs to ensure targeted sample selection for internal quality inspections. - Strategic Workload Management: Led the reassessment of the High-Risk Engagement framework, implementing a streamlined workload model that optimized Partner capacity and ensured focused oversight on critical audit files. - Digital Transformation: Directed the digitalisation of various reporting forms into a centralized database system, significantly improving data integrity, tracking efficiency, and the timeliness of management reporting.

Key Achievements: - Complex Valuation: Led financial audits for Private Equity and Private Credit funds, valuing complex Level 3 assets including a distressed PRC Real Estate bond portfolio worth over USD 2B. - Risk & Controls: Directed internal control reviews for global investment managers (AUM > USD 1B), identifying root causes of operational incidents and implementing preventive risk frameworks. - Operational Efficiency: Redesigned audit workflows and data quality initiatives, resulting in a 10% increase in process efficiency. - Regulatory Compliance: Managed rigorous compliance reviews for Hong Kong FRR, Cayman Fund Annual Returns, and fund offering documents (PPM, LPA, Trust Deed).

Work Experience - Orchestrated and provided high-level recommendations and improvements on areas of concern to enhance productivity and performance on various complex client issues. Identified audit risks and coordinate with management and stakeholders in preparing related reports. - Managed and coordinated client audit plans and fieldwork including financial and operational audits for listed entities across multiple industries/nations including Healthcare, Manufacturing, Construction, Trading and Logistics. Key Achievements - Implemented accounting treatment on the issuance of financial instruments amounted to US$40 million. - Redesigned and streamlined data management and execution procedures resulted in improving the operational efficiency of the team by 10%. - Overseed over 10 engagement profiles and contributed over $10 million annual revenue.

Specialized in corporate audit with experience in construction, chemical products, electronics and transportation sectors.

Experienced financial service sector auditor with SFO compliance audit engagements for licensed corporations on audit planning, executing, and managing financial statements and internal control audits. Responsible for: - Perform statutory audit and compliance audit - Perform financial audits to ensure that financial statements were fairly presented - Auditing client's consolidated financial statements, preparing consolidation notes and disclosures for annual report - Perform review of accounting records, and search for errors or fraud