Opinions of the Chinese Institute of Certified Public Accountants on Serving the Overall Economic Development and Promoting Steady Development of the Industry under the Current Economic Situation

中国注册会计师协会关于当前经济形势下服务经济发展大局、促进行业平稳发展的意见

Promulgating Institution: Chinese Institute of Certified Public Accountants

Document Number: Hui Xie [2009] No. 26

Promulgating Date: 04/07/2009

Effective Date: 04/07/2009

颁布机关: 中国注册会计师协会

文   号: 会协[2009]26号

颁布时间: 04/07/2009

实施时间: 04/07/2009

The institutes of certified public accountants of all provinces, autonomous regions, and municipalities directly under the Central Government,

At present, the impact of the global financial crisis on the real economy and the economy of our country is becoming increasingly apparent. To cope with the global financial crisis and the changes in the domestic economic situaton, the CPC Central Committee and the State Council show great foresight and timely introduce and comprehensively implement a package plan to promote the steady and fast development of the economy. Certified public accountants shall attach great importance to the influences of the global financial crisis on the industry as it spreads, further enhance overall consciousness of social responsibility, deeply understand and accurately grasp new requirements for the practice of certified public accountants imposed by all policies and measures introduced by the Central Government, take active actions and conduct close cooperation to serve the implementation of significant macro-economic decisions of the State as well as the effective promotion of market confidence; meanwhile, enhance industry integrity, innovate professional services, perform supervision and administration strictly, so as to turn the crisis into oppotunties and promote the healthy and steady development of the industry.

  各省、自治区、直辖市注册会计师协会:

  当前,国际金融危机对实体经济的冲击,以及对我国经济的影响日益显现。为应对国际金融危机和国内经济形势的变化,党中央、国务院高瞻远瞩,及时出台并全面实施促进经济平稳较快发展的一揽子计划。注册会计师行业要高度重视国际金融危机蔓延对行业的影响,进一步增强大局意识和社会责任意识,深入理解和准确把握中央出台的各项政策措施对注册会计师执业工作的新要求,积极行动,密切配合,为国家重大宏观经济决策的落实到位和市场信心的有效提升服务,同时加强行业诚信、创新专业服务、严格监督管理,化危为机,促进行业健康平稳发展。

1. Certified public accountants shall adhere to the faith-based principle, strengthen professional roles, and serve the enhancement of market confidence and implementation of significant macro-economic decisions of the State.

The supervision on and guarantee of the authenticity and reliability of economic information are not only beneficial to promoting the scientific macro decision-making but also are crucial to maintaining and enhancing market confidence. Certified public accountants, as an important force in the social economic supervision system, shoulder the important responsibilities of supervising the quality of accounting information and maintaining the order of the market economy; the more difficult it is to develop the economy, the braver they shall be in assuming historic responsibilities; they shall stick to the faith-based principle, observe professional ethics, hold independent, objective and just professional ground, effectively supervise and ensure the quality of economic information and make contributions to promoting market confidence and safeguarding the safe operation of the economy. 

To cope with the global financial crisis and promote steady and fast development of the economy, the State has launched an investment plan with the total amount of RMB4, 000 billion. Certified public accountants and accounting firms shall, when participating in the consultation and demonstration and audit with regard to relevant significant investment projects, faithfully perform the functions and responsibilities of audit, assurance and professional consultation, make the most of the professional advantages of certified public accountants in aspects of audit supervision, financial diagnosis, investment analysis and risk control, and make contributions to ensuring security of project demonstration, fund utilization and project management.  

When providing consulting services for making relevant investment decisions, certified public accountants shall focus on matters including whether the investment direction of the enterprise accords with the industry policy, whether the investment scale matches the actual needs of the project, whether the management capability of the enterprise accommodates to the requirements for risk control of the investment project, so as to provide decision-making support which is helpful for reasonable allocation of resources, scientific investment and avoidance of reckless and redundant construction. 

When auditing the budget and final account of relevant engineering projects, certified public accountants shall focus on price changes and supply of engineering materials under the current market situation, settlement of project payment, design change and field attestation that occur in the construction of project, and examination of the budget, settlement and final account of engineering projects, so as to ensure the normalcy, safety and effectiveness of the invested fund.  

Meanwhile, certified public accountants shall take initiative to investigate the applicability and positive influences of relevant policies on enterprises, timely provide policy consultation, policy analysis and corresponding professional consultation services for enterprises, and actively help the enterprises to cope with and solve the crisis. 

    一、要坚持以信为本，强化专业作用，为提升市场信心和国家重大宏观经济决策的贯彻落实服务

  监督和保障经济信息的真实可靠，不仅有助于增强宏观决策的科学性，而且对于维护和提升市场信心至关重要。注册会计师行业作为社会经济监督体系的重要力量，担负着监督会计信息质量、维护市场经济秩序的重要职责，越是在经济发展遇到困难的时候，越要勇于承担起历史责任，坚持以信为本，恪守职业道德，坚守独立、客观、公正的职业立场，有效监督和保障经济信息质量，为提升市场信心、保障经济安全运行作出贡献。

  为应对国际金融危机、促进经济平稳较快发展，国家推出了总额4万亿的投资计划。注册会计师和会计师事务所在参与相关重大投资项目咨询论证和审计监督工作时，要切实履行好审计鉴证和专业咨询的职责，积极发挥注册会计师行业在审计监督、财务诊断、投资分析、风险控制等方面的专业优势，为保障项目论证安全、资金使用安全和项目管理安全做贡献。

  在参与相关投资决策咨询工作中，要重点关注企业的投资方向与产业政策是否相吻合，投资规模与项目实际需要是否相匹配，企业管理能力与对投资项目的风险控制要求是否相适应，为合理分配资源、实现科学投资、避免盲目和重复建设，提供决策支持。

  在参与相关工程项目预决算审计工作中，要重点关注当前市场环境下工程材料的价格变动及供应情况、工程价款的结算情况、工程实施过程中发生的设计变更和现场签证，以及工程项目预算、结算、决算的审核情况等，保证投资资金的规范、安全和有效。

  与此同时，要主动研究相关政策对企业的适用性和积极影响，及时为企业提供相关政策咨询、政策解读和相应的专业咨询服务，积极主动帮助企业应对危机、化解危机。

2. Strengthen quality control and risk management and prevent operational risks of the enterprise from changing into auditing risks. 

Impacted by the current global financial crisis, the enterprises face many new adverse factors in operation, including the sustained operation problems caused by the decline of earnings of the enterprises, substantial depreciation of financial assets held by such enterprises, losses arising from price decline of the purchased resources assets, overstock caused by market shrink, and business performance pressure facing the management of the enterprise, etc. Under this economic circumstance, certified public accountants shall pay significant attention to the auditing risks that may be possibly caused due to the change in the operation environment of enterprises, strengthen auditing quality control and practice risk management, and prevent the operational risks of enterprises from changing into auditing risks.

(1) Certified public accountants shall strictly implement quality control standards. In accordance with the requirements of quality control standards, certified public accountants shall further improve the auditing rules and quality control system for accounting firms, provide audit opinions independently, objectively and justly, guarantee the practice quality and prevent practice risks.  

(2) Certified public accountants shall implement the risk-oriented auditing idea, deeply understand the information of the audited entity and the influences of the current environment on the financial report of such entity, discreetly assess the auditing risks including determining the fields that may need special consideration, and scientifically arrange the auditing work. The focus shall be put on: in case of financial assets that are priced at fair value, whether the change in the fair value has been appropriately reflected; whether the drawing and reversion of large assets depreciation reserves are reasonable; whether the changes in the accounting policy made by the enterprise have sufficient grounds; whether the accounting estimates made by the management of the enterprise, such as the drawing of stock depreciation reserve and completion percentage of long-term contracts, are reasonable.

(3) Certified public accountants shall pay close attention to the sustained operation risks of the audited entity. The focus shall be put on the following factors: the financing sources and the changes thereof, the changes in the cost of financing, the changes in the marketability of the held assets, the changes in the environment of market that the audited entity operates in, the significant reorganization of the enterprise, or the great decrease of statutory capital and pending lawsuit arising from the significant losses from the sale of assets.  

(4) Certified public accountants shall pay close attention to the risks of material false statement in the financial statements of the audited entity due to fraud, especially to whether the management may have motives in reporting false financial information, which motives include keeping financial stability and profit rate, protecting the personal remuneration of the management; concealing the mistakes in decision-making of the management; catering to specific financing requirements; avoiding reporting significant losses, and to financial forgery acts possibly committed by ST Companies and *ST Companies out of the motive of avoiding being delisted. Meanwhile, they shall also pay attention to whether the internal control of the audited entity is sound, whether the organization structure is complicated or unstable, whether there is efficient supervision on the management, whether the business characteristics of the industry that the enterprise is engaged in provide convenience for committing fraud in the financial report, etc.

    二、要加强质量控制和风险管理，防范企业经营风险转化为审计风险

  受当前国际金融危机影响，企业经营面临许多新的不利因素，其中包括企业经济效益下滑带来的持续经营问题，持有金融资产的大幅贬值问题，购买资源性资产带来的跌价损失问题，市场萎缩带来的库存积压问题，以及企业管理层面临的经营业绩压力问题等等。在这一经济环境下，注册会计师行业要高度重视企业经营环境变化可能导致的审计风险，加强审计质量控制和执业风险管理，防止企业经营风险转化为审计风险。

  第一，要严格执行质量控制准则。要根据质量控制准则的要求，进一步完善事务所审计规程和质量控制制度，独立、客观、公正地发表审计意见，保证执业质量，防范执业风险。

  第二，要切实贯彻风险导向审计理念，深入了解被审计单位的情况及当前环境对其财务报告产生的影响，谨慎评估审计风险，包括确定可能需要重点考虑的领域，科学安排审计工作。其中重点关注:采用公允价值计价的金融资产，公允价值变动情况是否进行了恰当反映;大额资产减值准备的计提和转回是否合理;企业自主做出的会计政策变更是否有足够依据;企业管理层作出的会计估计，如存货跌价准备的计提、长期合同的完工百分比等，是否合理。

  第三，要密切关注被审计单位的持续经营风险。重点关注以下因素:融资来源及其变化、融资成本的变化、持有资产变现能力的变化、所处市场环境的变化、企业重大重组事项、资产销售的重大损失可能大幅减少法定资本和引发未决诉讼等。

  第四，要密切关注被审计单位由舞弊导致的财务报表重大错报风险。重点关注是否存在致使管理层对财务信息作出虚假报告的相关动机，包括:保持财务稳定性及利润率;保护管理层个人报酬;隐瞒管理层决策失误;迎合特定的融资要求;避免报告重大损失等，以及ST公司和*ST公司出于避免退市动机可能的财务造假行为。同时，还应当关注被审计单位是否存在内部控制不健全、组织结构复杂或者不稳定、对管理层缺乏有效监督、所处行业业务特征为财务报告舞弊提供了便利等情况。

3. Promote the development idea of accounting firms, tighten the internal management and advance the transformation and upgrading of business at appropriate time.

Facing the impact of the global financial crisis, accounting firms shall take a long-term view, turn the crisis into opportunities, further promote the development idea, advance the transformation and upgrading of business at appropriate time, tighten the internal management, improve the governance structure, and increase risk resistance capacity. 

(1) Accounting firms shall change their business growth pattern at the right time and actively expand new business fields. They shall be guided by the market and continually achieve service innovations on the basis of reinforcing such businesses as traditional audit of financial statements, capital verification, tax certification and consultation, management consultation, etc.

They shall actively participate in the special audit for the identification of high-tech enterprises, special audit for the identification of comic and animation enterprises, internal control design and audit of enterprises, actively undertake businesses relevant to the bankruptcy of enterprises, and vigorously develop the business of audit on and due diligence investigation in M&A and reorganization. Competent accounting firms shall actively make efforts to participate in the consultation and audit of relevant significant investment projects of the State.

(2) Accounting firms shall take the improvement of the quality of practitioners and enhancement of reserve of talents as the key link in the promotion of business transformation and upgrading. They shall seize the current opportunities to attract talents, intensify the efforts in absorbing excellent talents from both home and abroad, improve the human resources system for recruiting, cultivating, using and retaining talents, and create a good environment for the growth of talents. Accounting firms shall, under the impact on their business, make the most of the "spare" time and carry out such "power charging" activities as business training. They shall provide talent guarantee for the innovation of service patterns and expansion of market share by improving the quality of practitioners and the structure of professionals. 

(3) Accounting firms shall improve their internal governance and tighten internal management. They shall construct governance structure and governance mechanism compliant with the provisions of the laws and the requirements of "harmony among personnel", create and improve policies on the performance evaluation, wage and promotion of practitioners oriented by quality, responsibility and risk control, improve business quality and control business risks, so as to achieve sustainable development. 

(4) Accounting firms shall actively shoulder corresponding social responsibilities, and shall to the best of their abilities, not lay off employees or reduce the layoff of employees and not reduce wages or decrease the reduction of wages to the extent possible. They shall establish and improve the social security system for employees, sign labor contracts with employees according to the laws, and cover relevant social insurances for the employees; establish a fair and reasonable income distribution system, form the idea and security mechanism under which the development depends on all employees and the development achievements shall be shared by all employees.

(5) Accounting firms shall participate in market competition in the principle of fairness and orderliness. Influenced by the current market environment, the business of certified public accountants may encounter partial and temporary market shrink. The more difficult the time is, the more importance shall the accounting firms put on the building of brand and reputation; they shall properly handle the relationship between the present and the future and the relationship between competition and development, resolutely resist acts of unfair competition, and consciously safeguard the competition order and integrity image of the industry.

    三、要提升会计师事务所发展理念，严格内部管理，适时推进业务的转型升级

  面对国际金融危机的影响，会计师事务所应当立足长远，化危为机，进一步提升发展理念，适时推进业务的转型升级，严格内部管理，完善治理结构，增强抗风险能力。

  第一，要适时转变业务增长方式，积极拓展新的业务领域。要以市场为导向，在巩固传统财务报表审计、资本验证、税务鉴证与咨询、管理咨询等业务的基础上，不断实现服务创新。

  要积极参与高新技术企业认定专项审计、动漫企业认定专项审计、企业内部控制设计与审计，积极承办企业破产案件相关业务，大力拓展并购和重组审计、尽职调查等相关业务。有条件的事务所，要积极争取参与国家相关重大投资项目的咨询和审计工作。

  第二，要把提高从业人员素质、加强人才储备，作为推进业务转型升级的关键环节。要抓住当前吸引人才的有利时机，加大吸纳国内外优秀人才的力度，完善招募人才、培养人才、使用和留住人才的人力资源制度，创造良好的人才成长环境。在事务所业务受到冲击的情况下，要充分利用“空余”时间，开展业务培训等“充电”活动。通过提高从业人员素质、改善专业人才结构，为创新服务类型、拓展市场份额，提供人才保障。

  第三，要完善会计师事务所内部治理，严格内部管理。要构建起符合法律规定和“人合”要求的事务所治理结构和治理机制，建立完善以质量、责任、风险控制为导向的业务人员业绩评价、薪酬及晋升政策，提高业务质量，控制业务风险，实现可持续发展。

  第四，要积极承担相应的社会责任，尽可能不裁员或少裁员、不减薪或少减薪。要建立健全员工社会保障制度，依法与员工签订劳动合同，办理相关社会保险;建立公平合理的收入分配制度，形成发展依靠全体员工、发展成果由全体员工共享的理念和保障机制。

  第五，要坚持按照公平有序的原则参与市场竞争。受当前市场环境影响，注册会计师行业可能面临局部暂时的市场萎缩。越是在困难时期，会计师事务所越要重视品牌和信誉建设，正确处理好当前与长远的关系、竞争与发展的关系，坚决抵制不正当竞争行为，自觉维护行业竞争秩序和诚信形象。

4. The institutes at all level shall bring their functions into full play and actively guide the industry in coping with the current challenges

Institutes of certified public accountants at all levels shall actively guide the industry in coping with the current challenges, and better serve the enterprises in dealing with the present crisis and serve the State in realizing steady and fast economic development. 

(1) The institutes shall carry out in-depth study of relevant issues arising from the accounting and auditing industry in dealing with the global financial crisis and timely provide professional technical guidance for the members to conduct relevant practice work. The Chinese Institute of Certified Public Accountants will pay close attention to the information on coping with the financial crisis released by international institutions that formulate the accounting and auditing standards and the standard-formulating institutions in main economies, release risk warnings and technical guidelines with regard to the possible risks and practice requirements according to the actual circumstances of the country; all local institutes shall concretely instruct and supervise the implementation of standards and relevant technical guidelines by members, and help members to prevent auditing risks more efficiently and improve the auditing quality.  

(2) The institutes shall convey and publicize relevant economic policies in a timely manner and provide policy and information support for members in serving enterprises. They shall pay close attention to and collect, at appropriate time, macro- economic policies introduced by the State and corresponding policies and measures of local governments and other information, and shall publicize such information to members through the website and publications of the institutes. The competent areas may engage relevant experts to conduct policy analysis, and help members to timely understand the policy and economic development trends of the State so as to enable provision of better policy consultation services and professional consultation services for enterprises.  

(3) The institutes shall actively make contacts with accounting firms to conduct research and investigation, timely understand and grasp the specific forms and degrees of influences of the current economic situation on accounting firms, and propose corresponding countermeasures and solutions. Each local institute shall, in light of the economic characteristics and industry development of the region, conscientiously strengthen the guidance to local accounting firms in aspects of development strategy, market positioning and expansion of business fields.

(4) The institutes shall further enhance the publicity of the functional role of the industry, increase the efforts in communicating with relevant departments, timely grasp the service requirements of relevant significant projects for certified public accountants, and actively recommend excellent accounting firms to participate in relevant work.  

(5) The institutes shall further tighten industry supervision and procure accounting firms to continuously improve practice quality. They shall, in response to the new changes in and new requirements of the situation, timely adjust the strategy, direction and emphasis of industry supervision and organize necessary special examination or random examination while continuing to improve and do a good job in practice quality examination in a cycle of every five years. 

The spread of the global financial crisis is bringing unprecedented difficulties and challenges to the industry of certified public accountants. The whole industry shall, while seeing the problems and difficulties, boost their confidence to overcome and go out of difficulties, accurately seize and make use of the advantages in the economic development of our country, stick to the in-depth implementation of industry development strategy without wavering, turn disadvantages into advantages, change the passive position into active one, seize new development opportunities in the course of overcoming difficulties, and promote the healthy and steady development of the industry in "dissolving crisis and seeking opportunities" so as to better serve the overall economic and social development.

Chinese Institute of Certified Public Accountants

April 7, 2009

    四、要充分发挥各级协会作用，积极指导行业应对当前的挑战

  各级注册会计师协会要积极指导行业应对当前的挑战，更好地为企业应对当前危机和经济平稳较快发展提供服务。

  第一，要深入研究会计审计应对国际金融危机的有关问题，为会员开展相关执业工作及时提供专业技术指导。中国注册会计师协会将密切关注国际会计、审计准则制定机构及主要经济体准则制定机构发布的应对金融危机的信息，并根据我国实际情况对可能出现的风险点和执业要求，向会员发布风险提示和技术指引;各地方协会要具体指导和监督会员执行准则和相关技术指引，帮助会员更好地防范审计风险，提高审计质量。

  第二，要及时传达和宣传相关经济政策，为会员服务企业提供政策信息支持。要密切关注和适时收集国家出台的宏观经济政策以及地方政府相应的政策措施等信息，通过协会网站、会刊等形式向会员广而告之。有条件的地方可以聘请有关方面的专家进行政策解读，帮助会员及时了解国家的政策走向和经济发展趋势，以更好地为企业提供政策咨询和专业咨询服务。

  第三，要积极深入事务所开展调查研究，及时了解和掌握当前经济形势对事务所影响的具体形式和影响程度，并提出相应的应对措施和解决办法。各地方协会要结合本地区的经济特点和行业发展状况，切实加强对本地区事务所发展战略、市场定位和业务领域拓展等方面的指导。

  第四，要进一步加强行业职能作用的宣传工作，加大与有关部门的沟通力度，及时掌握有关重大项目对注册会计师行业的服务需求，并积极推荐优质事务所参与相关工作。

  第五，要进一步严格行业监管，促进事务所不断提高执业质量。要针对形势的新变化和新要求，及时调整行业监管的策略、方向和重点，在继续完善和做好五年一个循环的执业质量检查工作的同时，组织必要的专项检查或抽查。

  国际金融危机的蔓延正给注册会计师行业带来前所未有的困难和挑战。在看到问题和困难的同时，全行业要坚定战胜困难、走出困境的信心，要准确把握和利用我国经济发展的有利条件，坚持深入实施行业发展战略不动摇，化不利为有利，转被动为主动，在克服困难的过程中抢抓新的发展机遇，在“化危求机”中促进行业健康平稳发展，更好地服务经济社会发展的大局。

  中国注册会计师协会

  二○○九年四月七日