Reply of the Chinese Institute of Certified Public Accountants on Capital Verification of Companies with Huge Deficit in Net Assets

中国注册会计师协会关于对公司在净资产出现巨额赤字情况下如何进行验资的复函

Promulgating Institution: Chinese Institute of Certified Public Accountants

Promulgating Date: 09/12/2002

Effective Date: 09/12/2002

颁布机关: 中国注册会计师协会

颁布时间: 09/12/2002

实施时间: 09/12/2002

1. Where a company with huge deficit in net assets applies for increase of its capital, the certified public accountants ("CPA") concerned shall, as required by the Announcement of Independent Audit Practices No. 1 - Capital Verification and the Guide to the Code of Practice for Chinese Certified Public Accountants No. 3 - Capital Verification (Trial), state the fact in the Explanatory Paragraph of the capital verification report that the net assets of the verified organization prior to the increase of capital is less than the registered capital due to heavy losses.

    一、当公司在净资产出现巨额赤字情况下办理增资时,注册会计师应当按照《独立审计实务公告第1号——验资》和《中国注册会计师执业规范指南第3号——验资(试行)》的要求,在验资报告的说明段中说明被审验单位由于严重亏损而导致增资前的净资产小于注册资本这一事实。

2. In the event of huge deficit in net assets of a company, the transfer of equity by any shareholder of the company to external parties shall be in compliance with the Company Law and the company's articles of association. If the company is a foreign-invested enterprise, such transfer shall also be subject to the approval by the competent department of foreign trade and economic cooperation. In the case of any share transfer by shareholders without changing the registered capital of the company, the relevant administration for industry and commerce shall not require the submission of the capital verification report in handling the registration of changes.

    二、公司净资产出现巨额赤字时,公司股东对外转让股权要符合《公司法》、公司章程等规定。对于外商投资企业的股东转让股权,还应当经外经贸主管部门批准。股东转让股权但公司的注册资本金额不变时,工商行政管理部门在办理变更登记时,不要求提交验资报告。

3. With respect to the historic information on the paid-up amount of the registered capital of a company, the CPAs shall state in the Explanatory Paragraph of the capital verification report the names of the previous accounting firms responsible for capital verification and the verification results thereof, as well as the accumulated paid-up amount of the registered capital, including that of the current period. Where the CPAs handling the capital verification for change purposes are of the opinion that problems exist in any previous capital verification report produced by other accounting firms, they are advised not to undertake this capital verification service for change purposes.

    三、对以前注册资本的实收情况，注册会计师应当在验资报告的说明段中说明以前验资的会计师事务所的名称及验证情况，并说明包括本期在内的注册资本累计实收金额。如果办理变更验资的注册会计师认为其他会计师事务所以前出具的验资报告存在问题，最好不要承接变更验资业务。

September 12, 2002

二00二年九月十二日