On Nov. 11 Lin Qiyun, director-general of the Accounting Department at China’s Ministry of Finance, told a press briefing that during the 15th Five-Year Plan period the ministry will tighten rule-of-law oversight and use the accounting supervision system as a key lever. The ministry will accelerate system-wide advancement of accounting standards and speed up supporting rules for the CPA industry, build a coordinated, efficient accounting supervision framework, and lawfully impose forceful, full-

On Nov. 11 Lin Qiyun, director-general of the Accounting Department at China’s Ministry of Finance, told a press briefing that during the 15th Five-Year Plan period the ministry will tighten rule-of-law oversight and use the accounting supervision system as a key lever. The ministry will accelerate system-wide advancement of accounting standards and speed up supporting rules for the CPA industry, build a coordinated, efficient accounting supervision framework, and lawfully impose forceful, full-chain penalties on financial-statement and audit violations to preserve market economic order.