日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Make me your Homepage
left corner left corner
China Daily Website

China's accounting industry matures with challenges

Updated: 2013-10-30 10:48
( Xinhua)

BEIJING -- China's certified public accounting industry has grown to be worth over 50 billion yuan since the sector was re-established in the 1980s.

Significant regulatory developments have accompanied its rapid progress. One regulatory step China has taken ahead of Europe and the United States is mandatory rotation of auditing firms.

The idea of forcing companies to change bookkeepers gained momentum after the 2008 global financial crisis. Taxpayers were furious that some banks were given a clean bill of health but later rescued using public cash.

The Europe Union moved closer earlier this month to put mandatory rotation into practice, Reuters reported.

In the US, the House of Representatives Financial Services Committee passed a bill in July that would block mandatory rotation after the Public Company Accounting Oversight Board (PCAOB), an auditor watchdog, debated the measure.

China's Ministry of Finance put in place mandatory rotation of auditors in 2010 for large State-owned financial institutions, among which three of the four biggest Chinese banks selected new auditors last year.

Proponents said the measure could enhance independence by keeping auditors from becoming too cozy with corporate management.

While not addressing particular cases in China, Kenneth Chatelain, partner in public policy and regulatory affairs for PricewaterhouseCoopers International, said mandatory auditor rotation is generally not the best idea.

"Most countries that adopt or propose to adopt mandatory rotation do so for some combination of two reasons, either to enhance auditor independence, or to try and spread work to develop more accounting firms. And in countries that have it, there is no evidence that it does either," Chatelain said.

"Moreover, mandatory audit rotation will likely cause considerable disruption and additional cost to companies as well as audit firms. Management, audit committees and auditors will need to commit significant time and resources to proposals, diverting their attention away from the more important activities that drive quality reporting and audits," Chatelain added.

Contrary to comments that the state-imposed transition might weaken the Big Four's China operations, Chatelain said that will not be the case.

"As the Chinese accounting profession becomes more mature, it's now possible for China to move towards a model that most countries have had all along, which is mostly local ownership of the accounting and auditing firms," Chatelain said.

For those accounting firms serving Chinese companies listed overseas, there is regulatory limbo between Chinese and American regulators, as US regulators demand to see the firms' auditing papers of US-listed companies, and firms are prohibited from sharing the documents under Chinese laws.

The two countries have been trying to find a solution, with the PCAOB signing a memorandum with Chinese regulators in May. But a deal involving the US Securities and Exchange Commission, which has standing lawsuits against the Big Four and BDO, has yet to be reached.

Part of the problem is the pressure on the regulators themselves within their respective governments, Chatelain said.

Auditors have lobbied hard for both sides to find a solution, he said, adding that both governments need to work through their differences.

 
 
...
主站蜘蛛池模板: 国产aaa视频| 91爱爱视频| 欧美人体视频 | 日本a免费 | 自拍毛片 | 超碰在线免费观看97 | 在线日韩国产网站 | 中文字幕偷拍 | 国产又粗又黄的视频 | 欧美激情网站 | 欧美成人猛片aaaaaaa | 成人免费看片视频在线观看 | 国产69av| 欧美精品一区二区三区视频 | 五月激情婷婷综合 | 日韩欧美一区在线 | 亚洲综合色视频 | 久久免费视频99 | 五月综合视频 | 天天干天天操天天爱 | 午夜久久久久久久久 | 在线观看精品国产 | 日韩综合久久 | 日韩美女免费视频 | 欧美裸体视频 | 天天色天| 成 年人 黄 色 片 | 日韩aaaaaa | 三级在线视频 | 国产老头老太做爰视频 | 天堂成人国产精品一区 | 欧美一级淫 | 狠狠综合网 | 香港之夜完整在线观看 | 国产不卡视频在线观看 | 91久久国产视频 | 国产精品久久久久久久妇 | 97福利视频 | 日韩免费视频一区二区 | 日韩精品一区二区三区在线播放 | a天堂在线观看 |