On the afternoon of February 15, the Ministry of Finance (MOF) held a ceremony to release 39 Chinese Accounting Standards for Business Enterprises and 48 Auditing Standards for Certified Public Accountants, marking the establishment of an accounting standards system for business enterprises and an auditing standards system for certified public accountants that suit the development of the market economy and convergence with the international practices.
Jin Renqing, Minister of Finance, attended the ceremony and delivered an important speech. He pointed out that the release and implementation of the two standards systems will facilitate the implementation of people-centered scientific approach to development, help improve market economic system and further expand opening-up, representing an important contribution on the part of fiscal and accounting work to economic and social development. Minister Jin emphasized that efforts should be made to promote the implementation of the two standards systems.
See full Press Release.
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