Interview by Accounting Messenger on Accounting Qualification

Posted by on September 30, 2010 under Hwuason News | Be the First to Comment

Liu Tianyong and Ling yunzhi have been interviewed by Accounting Messenger on theme of Accountant Qualification, and both gave constructive opinions on the management of subsequent education for accountants, on innovation of examination contents, on punishments of cheating behavior in qualification examination, etc. They are also invited to make comments on duration and effectiveness of the qualification and on drafting of examination and appraisal measures of senior accountants, and have expressed some professional ideas from their point of view.

Interview by Accounting Messenger on CTA profession

Posted by on under Hwuason News | Be the First to Comment

Shi Zhiqun, senior lawyer at Hwuason law firm, was invited by the Accounting Messenger to illustrate features of CTA profession and its practicing standards. He explained in the interview that, practice area of CTA always leads to confusion as it share a lot of business with CPA, yet, the two differs in various ways. When making rules of practice standard, business scope of CTA should be specified to make such distinction clear.

Moreover, internal division of business scope of CTA is also essential. Through determination of lines between 3 types of CTA business, not only can practice contents become clear, the rights and obligations of each involved party can also be determined.

 

Provisions of legal liability should also be appropriately stipulated to facilitate the implementation, and as practitioners of the standard, tax agents should make efforts to appeal to good ethics to enhance the business morality, and tax agents association should also play their managing role.

Interview by Accounting Messenger on Inbound Enterprise Disputes

Posted by on under Hwuason News, Tax Controversy | Be the First to Comment

Liu Tianyong has attended the interview of Accounting Messenger on Inbound Enterprise Disputes with 3 other guests: Yang Mengzhu (Special Researcher at PPLG center of Central South University), Wang Yougui and Ling Yunzhi.

In light of Provisions of the Supreme People’s Court on Several Issues Concerning the Trial of Cases of Disputes Involving Foreign-Funded Enterprises (I) (Draft for Soliciting Opinions), legal application of disputes arised in establishment and alteration process of Inbound Companies has been properly regulated. Liu and other guests explained how such provisions will affect the Inbound Companies, and how the development of legal policy will influence our investment environment. They also discussed the remain defects of the provisions, and gave suggestions for future improvement.

Interview by Accounting Messenger on Defects of Accountancy Law

Posted by on under Hwuason News | Be the First to Comment

This year is the 25th anniversary of China Accountancy Law and the 10th anniversary of New Accountancy Law’s implementation. And though the Accountancy Law has made great contribution to regulating of accounting acts, it has become insufficient for developing accounting career and ever changing practical needs.

On the interview, Liu has answered a dozen of questions related to the flaws and changing plans of the Accountancy Law, hereunder are some of the significant ones,

I. Urgent to amend the Accountant Law

The law should be adjusted in several aspects, a) Accountancy Law should be categorized as Procedure Law, rather than an overall law including both substantive and procedural rules, b) more practical rules should be stipulated to supplement previous general rules, c) in view of its contents, internal supervision and exposition system should be added to section of “Accounting Supervision”, and legal responsibility of the principle should be specified.

II. Civil Liability of illegal behavior

According to relevant laws, the accountant who grossly violated Accountancy Law shall be dislicenced by Finance Department of the government, and shall be prosecuted if crime constitution are satisfied.

And according to compensation liability of tort rules, the investors, consigners and other people interested are entitled to get the compensating money on basis of actual loss.

III. Responsibility of Accountant should be More Explicit

Modification of the Accountancy Law should be oriented in conformity with the international standard, should pay attention to rebuilt of calculation model, and more importantly, should focus on completion of enterprises’ accountant structure.

The accounting liability of the principle and the audit liability of accountants are relatively different. Accounting liability stipulated in the Accountant Law is mandatory and belongs to strict liability, as long as false information leading to other interested man’s loss, will be imposed upon the principle. In contrast, audit liability only comes around when there’s intentional tort or gross negligence.

 For more information: http://www.e521.com/zixun/ny.jsp?caption=25308