The State Council has cancelled and made adjustment on a series of items subject to administrative examination and approval

　　The 58 items, of which the administrative examination and approval has been canceled or delegated to the lower level, include 7 items on taxation administrative examination and approval. The 67 items, of which the vocational qualification license and affirmation have been cancelled, include land valuer qualification and sponsor representative qualification, etc. 82 pre-approval business registration items have been transferred to post-approval items, including examination and approval of the establishment of asset evaluation agency, examination and approval of the establishment of accounting firms and their branches, examination and approval of intermediary’s involvement in bookkeeping agency business, examination and approval of financial consulting agency and accounting firm’s involvement in security futures and relevant businesses, and examination and approval of asset evaluation agency’s engagement in security service business.

　　The Ministry of Finance has adjusted and improved administrative management items on CPA industry

　　After the system transformation on “four major items”, substations are to be set up and provincial financial departments are to take charge of relevant affairs and examine and approve such affairs in accordance with relevant regulations. Examination and approval of the establishment of resident representative offices in China by foreign accounting firms have been cancelled, and it is unnecessary to submit capital verification certificate or capital verification report on amount of contribution by investors to provincial financial sectors.

　　Two heads of accounting firms in Inner Mongolia have been sentenced for issuing false documentary evidences

　　For issuing false documentary evidences and resulting in culpable negligence, Xu Luna, director and senior accountant in Chifeng Chengyue Joint Accounting Firm, was sentenced to fixed-term imprisonment of one year and six months with two-year suspended sentence, and imposed a penalty of Forty thousand yuan, by the People's Court of Songshan District, Chifeng City on October 20, 2014. Charged with the same crime, Zhang Suqin, deputy director and a certified public accountant in Inner Mongolia Wantaihua Certified Public Accountant Co., Ltd, was sentenced to fixed-term imprisonment of one year with one-year-and-six-month suspended sentence by the People's Court of Songshan District, Chifeng City on October 20, 2014, and imposed a penalty of thirty thousand yuan.