The Ministry of Finance recently announced the “Administrative Measures on the List of Serious Untrustworthy Entities in the Certified Public Accountants Industry”. Relevant officials in charge of the Ministry of Finance answered questions from reporters on the “Measures”. According to the “Measures”, in addition to measures such as employment restrictions that should be implemented in accordance with laws and administrative regulations, three types of measures should also be implemented for those included in the list of seriously untrustworthy entities in the certified public accountant industry: first, they are listed as key targets of supervision; second, the notification and commitment system is not applicable; and third, commendations and rewards such as honorary titles are not granted to the financial department.

The Ministry of Finance recently announced the “Administrative Measures on the List of Serious Untrustworthy Entities in the Certified Public Accountants Industry”. Relevant officials in charge of the Ministry of Finance answered questions from reporters on the “Measures”. According to the “Measures”, in addition to measures such as employment restrictions that should be implemented in accordance with laws and administrative regulations, three types of measures should also be implemented for those included in the list of seriously untrustworthy entities in the certified public accountant industry: first, they are listed as key targets of supervision; second, the notification and commitment system is not applicable; and third, commendations and rewards such as honorary titles are not granted to the financial department.