|
|
17 Feb 2006
Jin Renqing, China’s finance minister, has announced at a glittering ceremony in Beijing, that the country will to bring accounting and auditing practices in line with international financial reporting standards.
In a speech, he said: 'This is a milestone for the accounting and audit industry in China which will move the country towards a more modern economic model and help investors make more sensible decisions.'
In doing so, China will become the 74th country to adopt IFRS, the FT reported.
Sir David Tweedie, chairman of the International Accounting Standards Board, said the decision would 'encourage investor confidence in China's capital markets and would be an additional spur for investment from both domestic and foreign sources'.
All listed companies in China must comply with IFRS from 1 January 2007.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment