2016 This year, the Chinese Institute of Certified Public Accountants will focus on reforming auditing reporting standards, continue to deepen its strategy of aligning these standards with international norms, and maintain dynamic international convergence of the standards.

First, we need to carry out the reform of audit reporting standards. In response to the international audit reporting reform requirements, issue audit reports, key audit matters, and going concern statements. 7 Series of auditing report standards; revising or developing standards for capital verification, etc. 7 This audit standard continuously promotes the dynamic international convergence of professional practice standards.

Second, promote the implementation and rooting of professional practice guidelines. Strengthen the publicity and training on professional practice standards, further enhance awareness of these standards among all stakeholders, and promote their effective implementation. Based on industry developments and member needs, conduct research on topics such as audit engagements for financial statement disclosures, the impact of information technology advancements on auditing work, and assurance services for greenhouse gas reporting. Fully leverage the roles of the Professional Technical Guidance Committee and the Accounting Issues Research Group, intensify guidance on certified public accountants’ professional judgment, and provide members with high-quality technical assistance and technical advisory services.

Third, actively participate in the development of international standards and international coordination efforts. Support the work of Chinese representatives on international standard-setting bodies such as the International Auditing and Assurance Standards Board, the International Ethics Standards Board for Accountants, and the International Public Sector Accounting Standards Board. Strengthen research on and feedback to draft international standards and consultation papers, enhance our voice in international rule-making, and fully leverage the advisory and support roles of the International Auditing Standards Research Group and the Ethics Issues Research Group.