What Do Certified Practising Accountants Do?

A certified public accountant is a person who has passed the CPA examination and obtained a CPA certificate to practice in an accounting firm. The English full names are Certified Practising Accountant ^[1] , Certified Public Accountant ^[2] , referred to as CPA, and the CPA professional examination subjects are "Accounting", "Auditing", "Financial Cost Management", "Economic Law", "Tax Law", "Strategy and Risk Management", the comprehensive stage is: comprehensive test of professional ability.

Basic Information

Chinese name

Certified Public Accountant

Foreign name

Certified Practising Accountant, Certified Public Accountant

Short name

Those who meet the following requirements can register for the National Unified Examination for Certified Public Accountants:

(1) Support the Constitution of the People's Republic of China and enjoy the right to vote and to be elected;

(2) Having full capacity for behavior;

(3) A graduate of a college or higher school, or a technical title of intermediate or higher in accounting or related majors.

Article 5 Personnel in any of the following circumstances cannot register for the National Unified Examination for Certified Public Accountants, and registrations that have already completed the registration procedures are invalid:

(1) Those who have not received a criminal punishment for less than 5 years from the date of completion of the penalty to the date of application for registration;

(2) Those who have less than 5 years from the date of punishment decision to the date of application for registration due to revocation of the CPA certificate.

(3) Those who have taken part in the CPA exam in the previous year due to cheating and whose suspension period has not expired, or who have not been allowed to participate in various examinations organized by the CPA industry for life.

Article 6 Personnel with senior technical titles in accounting or related fields may apply for exemption from examinations in some subjects. ^[4]

Professional exam subjects: "

The scope of the examination is determined in the annual "Exam Outline" issued by the National Examination Board.

The specific time for registration is stipulated in the registration brochure issued by the examination committee of the Ministry of Finance of each year, and the local examination committee should determine the specific registration date in this area and make an announcement to the society.

The specific time for each subject examination is specified in the registration brochure issued by the annual examination committee of the Ministry of Finance ^[5]

Certified public accountants and accounting firms must abide by laws and administrative regulations when performing business.

Certified public accountants and accounting firms perform business independently and fairly according to law and are protected by law.

The Institute of Certified Public Accountants is a social organization composed of certified public accountants.

The Ministry of Finance has established the Certified Public Accountants Examination Committee (referred to as the Examination Committee of the Ministry of Finance) to organize and lead the unified national examination of registered accountants. The Examination Committee of the Ministry of Finance has established the Office of the Certified Public Accountants Examination Committee (referred to as the Examination Office of the Ministry of Finance) to organize the implementation of the national unified examination of certified public accountants. The Examination Office of the Ministry of Finance is located in the Chinese Institute of Certified Public Accountants.

each

The CPA adopts a 100-point system for each test, with 60 points passing the grade line.

According to the Ministry of Finance

In 2012, the average pass rate of all subjects in the professional stage of the China Certified Public Accountants Examination was 26.58%, and the pass rate of the comprehensive stage was 41.45%.

Chinese certified public accountants are divided into professional stage and comprehensive stage. Examination of accounting, auditing, economic law, tax law and other subjects at the professional stage, and the comprehensive stage must wait for the professional stage to complete the exam before applying for the exam, adding knowledge about business accounting standards. In 2012, China's CPA exam was transformed from a paper-based test to a computer-based test for the first time.

According to reports, 520,000 people registered for the professional examination of the 2012 China Certified Public Accountants Examination, and a total of 1.35 million examinations were taken, with an average test rate of 43%; 13,000 people were enrolled at the comprehensive stage, with an average rate of 90%. There are more than 700 test centers and more than 6,400 test centers across the country. ^[6]

Chinese Certified Public Accountant Auditing Standards No. 1101-Objectives and General Principles of Auditing Financial Statements.

Auditing Standards for Chinese Certified Public Accountants No. 1111Agreement on Auditing Business.

Chinese Certified Public Accountant Auditing Standards No. 1121-Quality Control of Historical Financial Information Auditing.

Auditing Standards for Chinese Certified Public Accountants No. 1131-Audit Working Paper.

Auditing Standards for Chinese Certified Public Accountants No. 1141-Consideration of Fraud in the Audit of Financial Statements.

Auditing Standards for Chinese Certified Public Accountants No. 1142Consideration of laws and regulations in the audit of financial statements.

Auditing Standards for Chinese Certified Public Accountants No. 1151-Communication with Management.

Auditing Standards for Chinese Certified Public Accountants No. 1152Communication between previous and future certified public accountants.

Auditing Standards for Chinese Certified Public Accountants No. 1201-Planned Audit Work.

Chinese Certified Public Accountant Auditing Standard No. 1211-Understand the audited entity and its environment and assess the risks of material misstatement

Auditing Standards for Chinese Certified Public Accountants No. 1212-Considerations on the use of service agencies by the audited entity.

Auditing Standards for Chinese Certified Public Accountants No. 1221-Materiality.

Auditing Standards for Chinese Certified Public Accountants No. 1231-Procedures for assessing the risks of material misstatement.

Auditing Standards for Chinese Certified Public Accountants No. 1301-Audit Evidence.

Auditing Standards for Chinese Certified Public Accountants No. 1311-Inventory supervision disk.

Chinese Certified Public Accountant Auditing Standards No. 1312-Letter of Attestation.

Chinese Certified Public Accountant Auditing Standards No. 1313-Analysis Procedures.

Auditing Standards for Chinese Certified Public Accountants No. 1314-Audit sampling and other methods for selecting test items.

Chinese Certified Public Accountant Auditing Standards No. 1321-Auditing of Accounting Estimates.

Auditing Standards for Chinese Certified Public Accountants No. 1322-Audit of fair value measurement and disclosure.

Auditing Standards for Chinese Certified Public Accountants No. 1323-Related Parties.

Chinese Certified Public Accountant Auditing Standards No. 1324-Continuing operations.

Auditing Standards for Chinese Certified Public Accountants No. 1331-Audit of opening balances when first commissioned.

Auditing Standards for Chinese Certified Public Accountants No. 1332-Events after the Period.

Auditing Standards for Chinese Certified Public Accountants No. 1341-Management Statement.

Auditing Standards for Chinese Certified Public Accountants No. 1401Using the work of other certified public accountants.

Auditing Standards for Chinese Certified Public Accountants No. 1411-Consider internal audit work.

Auditing Standards for Chinese Certified Public Accountants No. 1421Using the work of experts.

Auditing Standards for Chinese Certified Public Accountants No. 1501-Audit Report.

Chinese Certified Public Accountant Auditing Standards No. 1502-Non-standard Audit Report.

Auditing Standards for Chinese Certified Public Accountants No. 1511-Comparative data.

Auditing Standards for Chinese Certified Public Accountants No. 1521-Other information in documents containing audited financial statements.

Auditing Standards for Chinese Certified Public Accountants No. 1601Issuing audit reports on special purpose auditing business.

Auditing Standards for Chinese Certified Public Accountants No. 1602-Capital Verification.

Auditing Standards for Chinese Certified Public Accountants No. 1611-Auditing of financial statements of commercial banks.

China Certified Public Accountant Auditing Standards No. 1612-Inter-bank Correspondence Procedures.

Auditing Standards for Chinese Certified Public Accountants No. 1613-Relationship with Banking Regulators.

Auditing Standards for Chinese Certified Public Accountants No. 1621-Special Considerations on Auditing of Small Auditees.

Auditing Standards for Chinese Certified Public Accountants No. 1631-Consideration of environmental matters in the audit of financial statements.

Auditing Standards for Chinese Certified Public Accountants No. 1632-Auditing of Derivative Financial Instruments.

Chinese Certified Public Accountant Auditing Standards No. 1633-The Impact of Electronic Commerce on the Audit of Financial Statements.

Chinese Certified Public Accountant Review Standards No. 2101-Review of Financial Statements ^[8] .

Basic Assurance Business Standards and Other Related Business Standards

Basic Principles of Chinese Certified Public Accountants' Assurance Business ^[9] .

Chinese Certified Public Accountants' Other Assurance Business Standards No. 3101-Assurance business other than auditing or review of historical financial information.

Chinese Certified Public Accountants' Other Assurance Standards No. 3111-Review of Predictive Financial Information.

Chinese Certified Public Accountant-Related Service Standards No. 4101-Implementing agreed procedures for financial information.

Chinese Certified Public Accountant Related Service Standards No. 4111-Compilation of Financial Information.

Accounting Firms Quality Control Guidelines No. 5101-Business Quality Control ^[8] .