The new audit law Labour to implement the Audit supervision authority

According to the Xinhua news agency, Wen Jiabao signed a decree of the State Council, announced the revised "PRC Audit Law Implementation Ordinance" since May 1, 2010. The new audit law in the following four areas to further standardize the audit supervision authority: first, to increase the provision of inquiries into accounts and deposits of specific procedures. The second is to increase the procedures and deadlines for storing information and assets. The third is to expand the scope of the audit results that can be published. The existing regulations will be published in the scope of three: the level of government and the higher audit authorities to be published, public concern, laws and regulations required to be published. The new law cancels the scope limit of the existing regulations, but publishes the verification results of the audit report related to the accounting firm, and consults with the competent authorities. Considering the particularity of the listed companies, the regulations stipulate that: when the audit results of listed companies are published, they should inform the listed companies of the content to be published before 5th. The other is to make clear the situation that the audit organ directly audits without prior notice. In order to protect the legitimate rights and interests of the audited units, the Audit Law stipulates that the audit authorities shall notify the audited units before the implementation of the audit, but "in exceptional circumstances" without prior notice. Sourceph ">