China implements guideline to regulate corporate accounting businesses

10:08, June 25, 2011      

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China's Ministry of Finance said Friday that it has created a guideline for companies to help them choose suitable accounting firms.

According to the guideline, large and medium companies should hire accounting firms of sizes that suit their scale, industrial position and social influence.

Financial, energy, communication and military companies, overseas-listed companies and large state-owned companies of national importance should obtain services from large accounting firms to ensure the safety of national economic information, it said.

Large- and medium-sized companies that use the services of unmatched accounting firms are the ministry's key targets in the creation of the guideline.

Source: Xinhua
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