China Accounting News Weekly[No.3]

The number of CPAs of the Ninth Public Offering Review Committee may be increased
　　April 6, the China Securities Regulatory Commission (CSRC) issued a Bulletin. It summarized the work of the Eighth Public Offering Review Committee. According to the Bulletin, the CSRC will restructure the Committee: the totally number of committeemen will still be 25; the full-time CPA committeemen will be increased from 5 to 9; there will be first CPV joining in the Committee as a full-time member. It also published the list of candidates of the Ninth Public Offering Review Committee.
　　Accounting and Appraisal Committee established
　　April 6, the China Appraisal Society (CAS) founded the Committee. It’ll be a platform for the Ministry of Finance, the    China Securities Regulatory Commission (CSRC), the China Appraisal Society and the China Institute of Certified Public Accountants (CICPA) to assort with each other.
　　CSRC identified five major aspects for accounting supervision
　　April 8, An official from the China Securities Regulatory Commission (CSRC) said that there would be five major fields of the accounting supervision this year: actively carry out the analysis of the 2006 annual reports of listed companies; further implement and improve the supervision of auditing; further improve information disclosure rules, in line with the new accounting standards and auditing standards; establish a multi-level punishment system for accounting and auditing responsibility; deal with the appraisal problem as a result of merging, restructuring, private offering of additional shares and so on.
　　The requirements for accounting firms involving in the security and future-related business enhanced
　　April 9, the Ministry of Finance and the    China Securities Regulatory Commission (CSRC) issued a notice. According to the notice, the qualification and material for eligible accounting firms to apply has been emended greatly.
　　The Social Security Fund may implement the new accounting standards in 2008
　　April 12, an official from the Fund said that the issue was under considering. According to this official, the new accounting standards will have a great effect on the distribution of asset and the proportion of asset that is under supervision.
　　The Examination of CICPA will be held in September
　　The examination will be carried out from September 14 to 16. The English tests will be held in September 17. Local Examination Committees will decide the time from May 10 to 31 for examinee to register.
　　Proofreader : meyoung
　　April 13, 2007 22：37PM. Released by www.esnai.com
　　Note:
　　“China Accounting News Weekly” is established in August 5, 2005. It selects important accounting news weekly to convenient the  people can acknowledge the developments quickly. From its launching, thousands of people read it every week.
　　In order to promote the development of China accounting industry to English readers, we make this English edition. If there are any problems, please contact with qiaobocao@snai.edu