China-EU cooperation in audit supervision has made important progress

| gov.cn

Xinhua News Agency, Beijing, 16 Nov (Reporter Liu Hongxia) the reporter learned from the Ministry of Finance on the 16th that the European Commission recently made a resolution and approved an assessment of the appropriateness of the Chinese competent authorities in the field of statutory audit supervision. This means that China-EU audit regulatory cooperation will be further deepened on the previous basis.

According to a statement issued by the Ministry of Finance on the same day, the European Commission made the resolution on November 6. After the resolution comes into effect on November 15, EU member states can negotiate and sign agreements with Chinese regulators to reach mutually beneficial cooperation arrangements on audit supervision, so that the two sides can effectively perform their audit regulatory duties.

This is an important phased progress in China-EU audit supervision cooperation after China and the EU achieved the equivalence of audit supervision in 2011, and it is also an important result of the China-EU Financial Dialogue.

The Ministry of Finance said that the implementation of the EU's appropriateness resolution is of great significance to deepening China-EU economic, trade, financial and financial exchanges and expanding the opening up of the field of accounting and auditing to the outside world, and is conducive to realizing the equivalence of China-EU audit supervision. We will further strengthen bilateral cooperation in audit supervision with EU member states and establish a mutually beneficial and long-term cooperation mechanism for audit supervision. This will also help to further broaden the investment and financing channels of Chinese and European enterprises, help Chinese enterprises to "go out" and the international development of the certified public accountant industry, and promote "Belt and Road Initiative" financial exchanges and co-construction and cooperation.

China-EU cooperation in audit supervision has made important progress

| gov.cn

Xinhua News Agency, Beijing, 16 Nov (Reporter Liu Hongxia) the reporter learned from the Ministry of Finance on the 16th that the European Commission recently made a resolution and approved an assessment of the appropriateness of the Chinese competent authorities in the field of statutory audit supervision. This means that China-EU audit regulatory cooperation will be further deepened on the previous basis.

According to a statement issued by the Ministry of Finance on the same day, the European Commission made the resolution on November 6. After the resolution comes into effect on November 15, EU member states can negotiate and sign agreements with Chinese regulators to reach mutually beneficial cooperation arrangements on audit supervision, so that the two sides can effectively perform their audit regulatory duties.

This is an important phased progress in China-EU audit supervision cooperation after China and the EU achieved the equivalence of audit supervision in 2011, and it is also an important result of the China-EU Financial Dialogue.

The Ministry of Finance said that the implementation of the EU's appropriateness resolution is of great significance to deepening China-EU economic, trade, financial and financial exchanges and expanding the opening up of the field of accounting and auditing to the outside world, and is conducive to realizing the equivalence of China-EU audit supervision. We will further strengthen bilateral cooperation in audit supervision with EU member states and establish a mutually beneficial and long-term cooperation mechanism for audit supervision. This will also help to further broaden the investment and financing channels of Chinese and European enterprises, help Chinese enterprises to "go out" and the international development of the certified public accountant industry, and promote "Belt and Road Initiative" financial exchanges and co-construction and cooperation.