Latest Chinese Certified Public Accountant Practice Standards

Author: Legal Society Regulations Center
Publisher:
Publish Date: 2007-01-01
Features: To give full play to the attestation and service role 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 obtain a certified public accountant certificate in accordance with the law and undertake audit and accounting consulting, accounting service business on behalf of clients. Accounting firms are organizations legally established to handle certified public accountant business. Certified public accountants performing business activities 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, while the provincial, autonomous region, and municipal-level 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 provincial, autonomous region, and municipal-level governments shall supervise and guide certified public accountants, accounting firms, and the Certified Public Accountants Association in accordance with the law.