Topic: Requirements for Improving the Competence of Certified Public Accountants in the New Regulatory Environment

Date & Time: 10:00-11:00, June 21, 2023

Venue: Room 210, Bo Xue Building

Expert: Changman Yan

Expert Profile:

Mr. Changman Yan, born in 1980, graduated from Dongbei University of Finance and Economics with a master's degree in accounting. He is a certified public accountant, senior accountant, certified M&A dealmaker , and an accounting consulting expert in Liaoning Province. He is now a partner of RSM China Accounting Firm, and also serves as an external master supervisor of Dongbei University of Finance and Economics, Liaoning University and other universities. In his career of more than 20 years, he has organized and guided the project team for many times to undertake the shareholding reform, design of reform plan and financial auditing and other work in the process of stock public offering and listing of many enterprises, and has rich practical experience and theoretical knowledge. He has participated in multiple research projects and published over 10 professional papers such as core journals.

Abstract:

China's economic development has entered the new normal development mode. As an important part of social and economic development, the capital market has received high social attention. The capital market has made tremendous progress in the past 40 years of reform and opening up, but some problems have also been highlighted in the development process. With the implementation of the new Securities Law and registration system, as well as the requirements of the State Council's No. 35 document, the requirements for the competence of certified public accountants have gradually increased.

Under this background, in December 2022, the Chinese Institute of Certified Public Accountants issued the new Competency Guidelines for Chinese Certified Public Accountant Industry Talents. The Guide (2022), with the goal of improving the ability of the certified public accountants industry to serve the country's construction, defined two standards of the theory and practice of the competence of industry talents, and constructed three systems of competence, knowledge and work that meet the needs of the professional development of certified public accountants. This report will focus on the capacity building of four stages of talent, including those who are willing to work in accounting firms, accounting firm assistants, certified public accountants, and partners.