Core Viewpoint - The Ministry of Finance issued an opinion to enhance the legal and regulatory framework for accounting practices, emphasizing the need for a clear responsibility system in accounting work [1] Group 1: Regulatory Framework - The opinion aims to strengthen the legal awareness, rule awareness, and responsibility awareness among relevant parties involved in accounting [1] - It calls for the establishment of a clear, collaborative, and efficient accounting responsibility system [1] - The Ministry of Finance is tasked with enhancing supervision and management of accounting work [1] Group 2: Audit Practices - The opinion prohibits any form of pressure on registered accountants or their firms to issue false or inappropriate audit reports [1] - It specifies that audit service fees must not be contingent upon audit results, public stock offerings, bond issuance outcomes, or achieving specific objectives [1]

Core Viewpoint - The Chinese Ministry of Finance has issued an opinion to strengthen financial accounting supervision, aiming to clarify responsibilities among various parties involved in accounting and auditing, enhance the quality of accounting information, and combat financial fraud [1][2][3]. Group 1: Responsibilities of Accounting Units - Units are required to ensure the authenticity and completeness of accounting data, prohibiting any false economic transactions or documents [1][2]. - Unit leaders are held accountable for the accuracy of accounting work and must not instruct accounting personnel to engage in illegal activities [2]. - Accounting personnel have the right to reject untrue or illegal original vouchers and report such issues to unit leaders [2]. Group 2: Responsibilities of Accounting Service Institutions - Accounting service institutions must refuse to process inappropriate accounting requests and must not conceal issues found during audits [3]. - Registered accountants are prohibited from issuing false audit reports and must report any violations of accounting laws by the audited entities [3]. Group 3: Regulatory Framework and Implementation - The Ministry of Finance is responsible for establishing a unified national accounting system, which must not be altered by other departments without approval [4]. - The opinion emphasizes the need for a clear understanding and execution of the unified accounting system to improve the quality of accounting information [4]. - The opinion aims to enhance legal awareness and responsibility among accounting professionals, thereby improving the effectiveness of financial supervision [5].

Core Viewpoint - The Ministry of Finance has issued an opinion to strengthen accounting responsibilities and enhance the implementation of accounting laws and regulations, aiming to clarify responsibilities across various entities involved in accounting work [1][2]. Summary by Sections Overall Requirements - The opinion outlines the guiding ideology and main objectives for enhancing accounting responsibilities [1]. Responsibilities of Accounting Entities - It specifies the responsibilities of units as accounting entities, including handling accounting affairs, organizing accounting work, and conducting internal and external supervision [1]. Responsibilities of Relevant Personnel - The opinion clarifies the accounting responsibilities of unit leaders, chief accountants, accounting personnel, and other staff members [1]. Responsibilities of Accounting Service Institutions - It defines the responsibilities of accounting service providers, including bookkeeping agencies, accounting firms, and software service providers [1]. Government Supervision Responsibilities - The opinion outlines the supervisory responsibilities of government departments, including financial and relevant supervisory bodies [1]. Self-Regulatory Responsibilities of Industry Associations - It specifies the self-regulatory responsibilities of associations such as the Certified Public Accountants Association and bookkeeping industry associations [1]. Strengthening Organizational Leadership - The opinion emphasizes the need for regional and departmental efforts in promoting training and ensuring the implementation of these responsibilities [1].

Core Viewpoint - The Ministry of Finance has released a draft opinion on further strengthening the responsibility of accounting work and the implementation of accounting laws and regulations, as well as the national unified accounting system [1] Group 1 - The draft aims to enhance the accountability of accounting professionals and ensure compliance with accounting laws and regulations [1] - It emphasizes the importance of a unified national accounting system to improve the quality and reliability of financial reporting [1] - The Ministry seeks feedback on the draft to refine the implementation strategies and address any potential issues [1]