Core Viewpoint - The "Jiangsu Province Accounting Supervision Regulations" is the first local legislation in China specifically for accounting supervision, set to take effect on March 1, 2026, marking a new phase of legal and standardized accounting supervision in Jiangsu [1] Group 1: Legislative Background - The regulation addresses the need for comprehensive accounting supervision beyond simple financial audits, responding to issues like misuse of public funds and financial fraud [2] - The legislative process involved extensive consultations with various stakeholders, including representatives from enterprises and academic experts, ensuring the regulation aligns with both national policies and local realities [2] Group 2: Supervision Framework - The regulation establishes a comprehensive accounting supervision framework consisting of 45 articles, transitioning from a single-department oversight model to a "five-in-one" structure involving multiple supervisory entities [3] - It emphasizes coordination among various supervisory bodies, including fiscal, disciplinary, and judicial oversight, to create a collaborative supervision environment [3] Group 3: Digital Empowerment - The regulation incorporates digital technologies like big data and artificial intelligence to enhance the efficiency and effectiveness of accounting supervision, enabling real-time monitoring and risk alerts [4] - It promotes a service-oriented approach to supervision, aiming to reduce the burden on enterprises while ensuring compliance and support for small and medium-sized enterprises [4] - The legislation aims to provide a legal foundation for accounting supervision in Jiangsu, offering a replicable model for similar initiatives across the country [4]