China Certified Public Accountant Profession Standards

Author: Chinese Institute of Certified Public Accountants
Publisher:
Publish Date: 2001-09-01
Features: After the merger of the original Chinese Institute of Certified Public Accountants and the Chinese Institute of Certified Auditors in 1996, the Chinese Institute of Certified Public Accountants and the Chinese Asset Appraisal Association merged their offices in September 2000. The merged Chinese Institute of Certified Public Accountants conducted a review of the laws, regulations, and institutional rules for the certified public accounting industry and the asset appraisal industry. As of August 31, 2001, 112 effective management regulations for the certified public accounting industry were reviewed and organized into 12 categories by the editor, including Comprehensive Management, Registration Management, Business and Qualification Management, Institutional and Systemic Reform, Professional Practice Standards, Industry Cleanup and Rectification, Business Supervision, Foreign-related Management, Examination Management, Continuing Education, Financial Management, and Information Management. Additionally, this book includes an appendix that compiles and excerpts 22 relevant laws and regulations of the industry to facilitate learning and understanding of the legal and regulatory framework and legislative context of industry management.
Comprehensive Management
The Law of the People's Republic of China on Certified Public Accountants
Passed by the Fourth Session of the Standing Committee of the Eighth National People's Congress on October 31, 1993
Chapter I General Provisions
Article 1 To give full play to the role of certified public accountants in socio-economic activities, strengthen the management of certified public accountants, safeguard the public interest and the legitimate rights and interests of investors, and promote the healthy development of the socialist market economy, this Law is formulated.
Article 2 A certified public accountant is a practitioner who has legally obtained a certified public accountant certificate and accepts engagement to engage in audit and accounting consulting and accounting service businesses.
Article 3 A certified public accounting firm is an institution legally established to handle certified public accounting businesses. Certified public accountants must join a certified public accounting firm when performing business.
Article 4 A certified public accountant association is a social organization composed of certified public accountants. The Chinese Institute of Certified Public Accountants is the national organization of certified public accountants, and the certified public accountant associations of provinces, autonomous regions, and municipalities directly under the Central Government are local organizations of certified public accountants.
Article 5 The Ministry of Finance of the State Council and the finance departments of provinces, autonomous regions, and municipalities directly under the Central Government shall supervise and guide certified public accountants, certified public accounting firms, and certified public accountant associations in accordance with the law.
Article 6 Certified public accountants and certified public accounting firms must abide by laws and administrative regulations when performing business. Certified public accountants and certified public accounting firms shall independently and impartially perform business in accordance with the law and are protected by law.
Chapter II Examinations and Registration
Article 7 The State implements a national unified examination system for certified public accountants. The measures for the national unified examination of certified public accountants shall be formulated by the Ministry of Finance of the State Council and organized and implemented by the Chinese Institute of Certified Public Accountants.