China Accounting News Weekly[No.261]
Posted by:Admin|Published:07/06/2015 09:13|hits:53
Executive Decoupling Plan Released for Commerce Chambers of Industry Association

It is learned that commerce chambers of industry association in China have developed from less than 1000 at the beginning of China’s reform and opening up, to over 60,000 in 2013. The "Plan" put forward a clear roadmap, timetable, and specific task list for the decoupling reform.
Audit Report Initially Pointed Out “Troubled Figures”

The audit report mentioned the names of Guo Zhenxi, former chief inspector of CCTV financial channel, Wang Tianchao, former dean of Yunan First Hospital, and etc.
Big Four Lose the Impression as Withdrawal Machine in Remuneration for 2015 Graduating Students

The big four accounting firms that were unlimitedly enchanting now offer a unified salary of 8.5k*13, which does not have any advantage over domestic accounting firms or banks any more, compared to several years ago.
The State Council Suspended the IPO

Purchase funds will also be returned to the investor account.
National Certified Public Accountants First Exceeded 100,000

In addition, non-practicing members have reached 100,000 by June 30, 2014.
Interim Measures Announced for Occupational Liability Insurance of Accounting Firms

The "Interim Measures" made it clear to encourage the accounting firms to cover occupational liability insurance based on the management situation and development requirement of their own. Accounting firms that already completed the required amount of aggregate limit of indemnity for professional liability insurance will not have to withdraw occupational risk fund. Those that already withdrew occupational risk fund will be processed in accordance with provisions of the laws and regulations, and the partnership agreement of accounting firm or preset provisions of the firm.
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