Mr. Chan, the finance editor of a local newspaper, interviewed Mr. Wong, Chairman of a listed company in Hong Kong, on 15 September 2015. During the interview the following dialogues were recorded by Mr. Chan: Mr. Chan: Mr. Wong, recently many financial analysts criticised that your company is performing badly over the last two years, and it is because you have not maintained a good management as well as accounting system. Do you agree to these criticisms? Mr. Wong: Of course I will not be bothered by those naive comments. In fact, many analysts in Hong Kong even do not really understand the contents of a published financial report prepared by the listed companies. They even have not studied a major in accountancy or finance, and they dare to claim themselves as finance experts. Mr. Chan: Are you saying that many financial analysts are not qualified to give expert or professional opinion on the financial performance of Hong Kong listed companies, aren't you? Mr. Wong: You do not believe in this, do you? Let me ask you a question as the finance editor of a reputable newspaper. How many financial reporters and analysts in Hong Kong holds a degree in accounting or finance, or that they are professional accountants? Mr. Chan: Well, we do not have any formal statistics in this regard, although based on my personal connections I guess that about 40% of the financial reporters and analysts meet your desired requirement. Mr. Wong: That means more than half of these reporters and analysts do not hold relevant qualifications. How can they make sensible comments without the pre- requisite knowledge? Mr. Chan:I do not think that we need to be professional accountant or chartered financial analyst before we can comment on the accounts of a company. In fact my personal view is that every person could comment accordingly. Mr. Wong: If this is your view, then when will you opine that a company is performing badly from the finance and accounting perspective? Mr. Chan: Well, I will go through its published accounts in each year and see if most of the accounting data and calculated financial ratios are indicative to dissatisfactory performance for that year