Enterprise Internal Control

Experts say in the implementation process must eliminate formalism since January 1 next year, both inside and outside the company will begin to implement the internal control system, and then gradually expand to the listed companies in the Shanghai and Shenzhen cities. In this regard, PwC officials said in an interview recently, the phased extension of the implementation arrangements will allow sufficient time for the parties to draw on specific experience in the implementation of the basic norms from enterprises with more substantial internal controls, thus making the next round of outreach more effective, reflecting fully the five ministries ' implementation of the basic norms　　's determination. "To eliminate formalism ...

The Ministry of Finance, the SFC, the Audit Commission, the CBRC, the CIRC 26th jointly issued the "Enterprise internal Control Guidelines", together with the previous release of the "Enterprise internal control basic norms", marking the Chinese enterprise internal control system is basically built.　　Deloitte yesterday said the guidelines would help improve the quality of financial reporting for Chinese companies and reduce the risk of commercial fraud. It is reported that "the basic norms of enterprise internal control" is called China's "Sarbanes-Oxley Act", June 28, 2008, by the Ministry of Finance, the SFC, the Audit Commission, the CBRC, the CIRC jointly issued to strengthen and standardize the enterprise ...