China Certified Public Accountant Independent Audit Standards. 2004 (2004)

Author: Chinese Institute of Certified Public Accountants
Publisher:
Publish Date: 2004-06-01
Features: The Chinese independent audit standards system consists of three levels: (1) Basic Standards for Independent Audit; (2) Specific Standards for Independent Audit and Practice Bulletins on Independent Audit; (3) Guidelines for Professional Practice. The Basic Standards for Independent Audit, Specific Standards, and Practice Bulletins are the legal requirements for certified public accountants to perform independent audit services and issue audit reports. Certified public accountants performing audit services as stipulated in Article 14 of the "Law of the People's Republic of China on Certified Public Accountants" must comply with these standards. The Guidelines for Professional Practice provide specific guidance for certified public accountants to perform independent audit services and issue audit reports, and should be referred to and followed. The Chinese independent audit standards system consists of three levels: (1) Basic Standards for Independent Audit; (2) Specific Standards for Independent Audit and Practice Bulletins on Independent Audit; (3) Guidelines for Professional Practice. The Basic Standards for Independent Audit, Specific Standards, and Practice Bulletins are the legal requirements for certified public accountants to perform independent audit services and issue audit reports. Certified public accountants performing audit services as stipulated in Article 14 of the "Law of the People's Republic of China on Certified Public Accountants" must comply with these standards. The Guidelines for Professional Practice provide specific guidance for certified public accountants to perform independent audit services and issue audit reports, and should be referred to and followed. Since 1995, the Chinese Institute of Certified Public Accountants has successively developed six batches of independent audit standards projects, including one Preface to Independent Audit Standards and one Guideline for Professional Practice on Independent Audit. A total of 48 projects. In addition, four guidelines have been issued for different types of services, as well as two audit technical tips and eight regulatory articles.