The 2017 Accounting and Auditing Seminar was held by Shenzhen Stock Exchange (“SZSE”), Shenzhen Regulatory Bureau of China Securities and Regulatory Commission (“CSRC Shenzhen”), and Shenzhen Institute of Certified Public Accountants (“SZICPA”) recently, attracting over 130 participants from SZSE, CSRC Shenzhen, SZICPA, and accounting firms with qualifications to participate in securities business.
On the seminar, attendees exchanged opinions on regulation of capital market auditing and relevant punishments and sanctions imposed, and the challenges of and countermeasures for goodwill accounting. A report was made on relevant regulatory work conducted on capital market accounting and auditing as strictly carried out in accordance with laws. Besides, there were also in-depth discussions on building a governing mechanism based on practice quality, strengthening the integrated quality control system of the head office, enhancing risk management and control, and improving practice quality on the part of accounting firms with securities business qualifications, and reinforcing regulation of auditing and evaluation institutions and financial disclosure on the part of regulatory authorities.
As expressed by an officer from SZSE, the seminar was the first of its kind held by SZSE, CSRC Shenzhen, and SZICPA, which had improved communication and cooperation between the three parties in the field of auditing and accounting regulation, and expanded the channels of communication and propaganda between and for SZSE, and academics and practitioners of accounting and auditing, with some hotspots, difficult issues and issues of concern fully discussed, which is very effective.
The officer also pointed out that, high-quality information disclosure is a key factor to market stability and protection of investor’s rights and interests. Financial information is a crucial content in information disclosure, and the basis for investor decision-making. Next, SZSE shall continue to impose strict regulation in compliance with laws, further enhance daily regulation of accounting and auditing, and urge auditing and evaluation institutions to duly perform their roles with diligence and to properly carry out the 2017 annual auditing. Moreover, SZSE shall strengthen the regulation measures for end-of-year profits suddenly generated by listed companies, improve the quality of accounting information of the capital market, and protect the legitimate rights and interests of investors, especially those of small and medium investors.