Chapter 3.5: Comparison of Auditing Requirements and Practices in the People s Republic of China with International Accounting Standards


PricewaterhouseCoopers

Overview

Chapter 3.3 deals with the current accounting and auditing requirements in the People's Republic of China (PRC). Also highlighted are the development and features of the PRC Accounting Standards and Regulations which, due to the unique characteristics of the Chinese economy, are somewhat different from those adopted in the West. In this chapter the significance of the International Accounting Standards (IAS) in the Western accounting system will be discussed and a comparison made between the IAS and PRC accounting regulations. Because of the similarities between the IAS and standards issued by other professional accounting bodies, comparing the PRC accounting regulations with the IAS will highlight the major differences between the PRC accounting regulations and those of the West such as the US GAAP (General Accepted Accounting Principles in the United States of America), and the UK SSAP (Statements of Standard Accounting Practice in the United Kingdom) and FRS (Financial Reporting Standard).




Doing Business with China
Doing Business with China
ISBN: 1905050089
EAN: 2147483647
Year: 2003
Pages: 648
Authors: Lord Brittan

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