Core Viewpoint - The expansion of the H-share audit "gold medal list" marks a significant step in the dual opening of the capital market, with the Ministry of Finance and the China Securities Regulatory Commission (CSRC) announcing the addition of two more accounting firms to the existing list of ten, emphasizing quality and selective criteria for inclusion [1][2][5] Summary by Sections Expansion of the H-share Audit List - The Ministry of Finance and CSRC issued a notice to supplement the list of accounting firms qualified for H-share audits, adding two firms to the existing ten [1] - The expansion is not merely quantitative but includes strict criteria such as a minimum annual revenue of 1.5 billion yuan and at least 800 registered accountants [2][4] Quality and Selection Criteria - The core principle for selection is "quality first, selective recruitment," with clear and stringent basic requirements for firms wishing to be included [2][3] - Key requirements include: 1. Presence of a member firm in Hong Kong or affiliation with an international accounting network [2] 2. Minimum annual revenue of 1.5 billion yuan, with at least 1 billion yuan from audit services and 250 million yuan from securities services, or at least 100 listed company audit clients [2] 3. At least 800 registered accountants [2] 4. Robust internal governance and quality management systems [2] Dynamic Management Mechanism - A dynamic exit mechanism has been established to remove firms that no longer meet the standards, enhancing the quality of audit services available to mainland enterprises listing in Hong Kong [2][6] - The review and recommendation process will be overseen by a committee formed by the Ministry of Finance and CSRC, ensuring transparency and fairness [3] Historical Context and Industry Impact - The H-share audit business list mechanism began in December 2010 with 12 firms, effectively reducing costs for mainland enterprises listing in Hong Kong and promoting capital market connectivity [3][4] - The addition of two firms is seen as a crucial optimization of the audit mechanism, reflecting changes in the industry landscape and market demands [4] Regulatory Cooperation and Oversight - The expansion reflects deepening cooperation between mainland and Hong Kong accounting regulators, aligning with national strategies and enhancing the quality of audit services [5][7] - A comprehensive regulatory framework has been established, including dynamic assessments, regular quality checks, and strict reporting requirements for H-share accounting firms [6][7]

Core Viewpoint - The article discusses the "Measures for Promoting the High-Quality Development of the CPA Industry in Guangdong Province," which aims to enhance the quality and competitiveness of CPA firms through various strategies and regulatory improvements [1]. Group 1: Support for CPA Firms - The measures encourage CPA firms to undergo market-oriented mergers and reorganizations to consolidate resources, enhance brand strength, and achieve scale and talent advantages [2][3]. - There is a focus on supporting the growth of CPA firms by integrating them into the private economy support framework and creating a platform for high-end accounting services [3]. - CPA firms are encouraged to provide specialized services and adopt diversified business strategies to build core competitiveness in niche markets [3]. Group 2: Expansion of Service Areas - The measures promote the integration of traditional audit services with high-end services such as financial planning and consulting, as well as data governance and digital transformation [4]. - CPA firms are urged to offer specialized services to technology companies, including intellectual property assessments and technology financial services [4]. - There is an emphasis on increasing the number of CPAs involved in bankruptcy management and supporting rural revitalization efforts [4]. Group 3: Regulatory Enhancements - The measures aim to strengthen the supervision and management of CPA firms, optimizing the selection mechanism for CPA firms based on quality rather than price [5][6]. - A professional liability insurance mechanism is to be improved, encouraging insurance providers to expand their offerings for CPA liability insurance [6]. - The measures also focus on defining the judicial responsibilities of CPA firms and enhancing the regulatory framework to address financial fraud and misconduct [6][7]. Group 4: Competition and Evaluation - The measures seek to curb unfair competition by exploring a pricing mechanism for services and monitoring service fee reporting [7]. - A comprehensive evaluation system is to be established to guide CPA firms in maintaining quality standards and enhancing risk awareness [7].