The Impact of the Implementation of the New Securities Law on the Audit Industry

Bing Han

《Frontiers in Economics and Management》 3卷2期 (2022/02) Pp. 740-746

https://doi.org/10.6981/FEM.202202_3(2).0088

摘要

On December 28, 2019, the new securities law, which has been revised for six years, was deliberated and adopted, and officially took effect on March 1, 2020. This is the most important revision of China's securities law since its implementation for more than 20 years. Compared with the original securities law, the core of this revision mainly includes four aspects: comprehensively implementing the reform of the registration system, strengthening the requirements of information disclosure, increasing the cost of violations of laws and regulations, and improving the investor protection system, which has compacted the legal responsibilities of market participants, especially requiring intermediaries such as accounting firms to abide by the law and be diligent, It plays a vital role in improving the basic system of China's capital market and promoting the healthy development of China's capital market marketization and legalization reform. This paper focuses on the impact of the implementation of the new securities law on the audit industry and the countermeasures that accounting firms should take.

關鍵字

New Securities Law ； Audit Responsibility ； Audit Risk

參考文獻

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