Internationalization of public accounting: Chinese experience

Internationalization of public accounting: Chinese experience The main objective of this paper is to examine the development of public accounting in China. While a brief review of the historical evolution of Chinese public accounting is presented in the first section, the paper focuses on the major progress of internationalization of public accounting in China in the most recent years, that is, improving qualification standards for professional accountants; unifying the professional associations of public practitioners; establishing Chinese Independent Auditing Standards; enforcing professional ethics and continuous education programs; reforming the administration of CPA firms; and opening the domestic accounting market up to foreign professionals. Both the motivation and impedance to those developments are analyzed. It is concluded that, to date, the gap between Chinese public accounting and the practices in the rest of the world has been narrowed down remarkably, which will benefit both Chinese and international business communities. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Managerial Auditing Journal Emerald Publishing

Internationalization of public accounting: Chinese experience

Managerial Auditing Journal, Volume 13 (2): 11 – Mar 1, 1998

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Publisher
Emerald Publishing
Copyright
Copyright © 1998 MCB UP Ltd. All rights reserved.
ISSN
0268-6902
DOI
10.1108/02686909810202773
Publisher site
See Article on Publisher Site

Abstract

The main objective of this paper is to examine the development of public accounting in China. While a brief review of the historical evolution of Chinese public accounting is presented in the first section, the paper focuses on the major progress of internationalization of public accounting in China in the most recent years, that is, improving qualification standards for professional accountants; unifying the professional associations of public practitioners; establishing Chinese Independent Auditing Standards; enforcing professional ethics and continuous education programs; reforming the administration of CPA firms; and opening the domestic accounting market up to foreign professionals. Both the motivation and impedance to those developments are analyzed. It is concluded that, to date, the gap between Chinese public accounting and the practices in the rest of the world has been narrowed down remarkably, which will benefit both Chinese and international business communities.

Journal

Managerial Auditing JournalEmerald Publishing

Published: Mar 1, 1998

Keywords: Auditing; China; Public sector accounting; Standards

References

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