The status quo of the new accounting standard system at home and abroad

Hello, the development of China's enterprise accounting standards system began in the 80s of the last century, when the country was implementing the policy of opening up to the outside world, and the accounting standards for business enterprises were also promulgated. Among them, the Accounting Standards for Business Enterprises of the People's Republic of China promulgated in 1985 is an important foundation of China's accounting standards system for business enterprises. Since then, China's accounting standards for business enterprises have developed rapidly, among which the important standards include the Regulations of the People's Republic of China on the Preparation of Enterprise Statements (1995), the Accounting Standards for Business Enterprises of the People's Republic of China (Trial) (1998), the Accounting Standards for Business Enterprises of the People's Republic of China (Revision) (2001), and the Accounting Standards for Business Enterprises of the People's Republic of China (Revision) (2006).

These standards are based on the International Accounting Standards (IAS) and are constantly improved and improved in accordance with China's national conditions and in accordance with the requirements and guidance of the Ministry of Finance. At present, China's accounting standards system for business enterprises has developed maturely and has been widely used at home and abroad. It provides a complete set of accounting standards, which not only covers the accounting report of the enterprise, but also includes the accounting of the enterprise, the analysis of financial statements, the control of the internal knowledge leakage and the accounting information system, etc., and provides the enterprise with effective accounting management and report analysis tools.

<> Chinese Certified Public Accounting Standards system includes the basic standards for the assurance business of Chinese certified public accountants, the relevant service standards for Chinese certified public accountants and the quality control standards.

The Basic Standards for the Assurance Business of Chinese Certified Public Accountants are formulated in accordance with the Law of the People's Republic of China on Certified Public Accountants in Fuhua People's Republic of China in order to standardize the execution of the assurance business by certified public accountants and clarify the objectives and elements of the assurance business, and shall come into force on January 1, 2007. According to the degree of assurance provided by the assurance business and the different objects of the attestation, the basic standards for the assurance business of the Chinese Certified Public Accountants are divided into the auditing standards of the Chinese Certified Public Accountants, the review standards of the Chinese Certified Public Accountants, and the standards for other assurance engagements of the Chinese Certified Public Accountants.

The relevant service standards of Chinese certified public accountants are used to regulate the implementation of other services such as agency compilation of financial information, implementation of agreed procedures, management consulting and other services of certified public accountants; Quality control standards are used to regulate the quality control policies and procedures that accounting firms should comply with when performing various types of business.

In the process of formulating and perfecting accounting standards, China has always paid attention to drawing on international accounting standards. At present, China's accounting standards framework has been basically established, and the coordination with international accounting standards has been greatly developed. However, there is still a certain gap between the accounting standard system and international practice.

In the process of further improvement and construction of accounting standards, "China will continue to learn from international accounting standards, and if the relevant international accounting standards do not conflict with China's laws and regulations or are not clearly inconsistent with China's actual provisions, China will be consistent with international accounting standards" (Feng Shuping: Speech at the China Forum of the 16th World Congress of Accountants).

1) The demand for the internationalization of accounting standards due to the trend of international economic integration.

With the increasing trend of global economic integration, the globalization of the capital market, and the rise and development of multinational corporations, the economic entities engaged in international investment have objectively attracted more and more attention to the financial information and accounting methods of other countries, and put forward higher requirements for the comparability of accounting information in the international scope. Therefore, the internationalization of accounting standards has become an indisputable reality faced by various countries. At the same time, the long-term goal of the WTO is to eliminate all obstacles and promote globalization and liberalization.

Accounting is a special language commonly used in the world, and the international standard of accounting is the specification of this language. In the long run, it is the general trend of the times for accounting standards to be unified on a global scale, and China's accounting standards will sooner or later be integrated into this special business language system of internationalization.

2) International Accounting Standards (IAS) are one of the most important manifestations of the internationalization of accounting countries.

The formulation of international accounting standards is to unify the accounting language of various countries, so that investors (statement readers) in different countries can read the statements, and one of the most important manifestations of accounting internationalization is to implement the common international accounting standards.

At present, international accounting standards have become one of the widely accepted accounting standards in the world, either as the national accounting standards of most countries or as the basis for the formulation of international standards. The IASB was restructured in 2001. The restructured IASB has a membership that is mainly from economically developed countries, and its formulation of IAS based on the experience of developed countries with market economies will help IASA to achieve high quality and high standards.

If the new standard-setting committee can formulate high-quality IFRS standards as expected, it is likely to be accepted by the international capital markets, including the United States, especially the European Auction Interbank Alliance has announced that the listed companies of its member countries will implement IAS from 2005, marking the acceleration of the process of accounting internationalization and the fact that IAS has become an important embodiment of accounting internationalization.