2014 Application Regulation of the Unified National Examination for Certified Public Accountants
The online registration starts from March 31 to April 25, and on-site qualification assessment will be held from May 5 to 16. Qualified applicants shall pay the test fees before 20:00 on May 20. The arrangement of the examination is: Test on Comprehensive Professional Ability---August, 23; Test on Audit, Financial Management, and Economic Law---September 13; Test on Strategic Management Accounting and Tax Law---September 14.
The Ministry of Finance amended and issued the Norms of Long-term Equity Investments
The regulations on enterprises’ long-term equity investments of the previous No.2 Norms are scattered in the application guidelines and explanation of the Norms, and the interpretation of accounting standards for business enterprises, which are not convenient to understand and implement. The new No.2 Norms mainly rectifies the scale of the long-term equity investments and will be executed since July 1, 2014. Related information: comparison between the previous and new Norms of Long-term Equity Investments.
The Ministry of Finance clarifies that the Ministry does not participate in the Examination for Management Accountants
As to the possibility to “establish China’s test-based certification system of management accountants to better manage and strengthen the training of management accountants”, the Ministry of Finance intends to reform the current accounting qualification test and realize the smooth convergence of the management accounting with current accounting qualification system.
The Analysis of the Audit market of the “new tertiary board” in 2013
The intermediation for the listing in the “new tertiary board” is composed by referral fees, audit fees, legal fees, and assessment fees, totaling around 1.5 million yuan. In terms of audit for the 156 incremental listing companies in 2013 and based on the average 0.3 million charge, the amount of the overall incremental audit market was 46.80 million yuan; in terms of the audit for the annual report audit of existing 356 companies and based on the average 0.1 million charge, the amount of the existing audit market was 35.60 million yuan. Considering risk control and cost recovery, the Big Four did not take a share in the audit market of the “new tertiary board”.