Latest Chinese CPA Practice Standards

Author: Legal Society Regulations Center
Publisher:
Publishing Date: 2007-01-01
Features: To give full play to the attest and service functions of certified public accountants in socio-economic activities, strengthen the management of certified public accountants, safeguard the legitimate rights and interests of the public and investors, and promote the healthy development of the socialist market economy, this law is formulated. Certified public accountants are practitioners who have legally obtained a certified public accountant certificate and accept commissions to engage in audit and accounting consulting, accounting service businesses. Accounting firms are organizations legally established to handle certified public accountant businesses. Certified public accountants practicing business must join an accounting firm. The Certified Public Accountants Association is a social organization composed of certified public accountants. The China Certified Public Accountants Association is the national organization of certified public accountants, and the provincial, autonomous regional, and municipal Certified Public Accountants Associations are the local organizations of certified public accountants. The Ministry of Finance of the State Council and the financial departments of the provincial, autonomous regional, and municipal people's governments shall legally supervise and guide certified public accountants, accounting firms, and the Certified Public Accountants Association.