accounting supervision wind influence geometry?

On February 16, 2023, the Ministry of Finance held a national financial and accounting supervision work conference; on March 20, 2023, the Ministry of Finance held a financial and accounting supervision special action and budget implementation supervision special action mobilization and deployment meeting.

on February 15, the two offices just issued the opinions on Further Strengthening the supervision of accounting and accounting (hereinafter referred to as the opinions), pointing out the direction for the establishment of regulations and legislation for financial and accounting supervision.

strengthen accounting supervision?

, when the person in charge of the Ministry of Finance answered a reporter's question on the Opinions, he mentioned that there are still some problems and shortcomings in the financial and accounting supervision work. The financial and accounting supervision system needs to be improved, the working mechanism needs to be straightened out, the construction of the rule of law needs to be improved, and the level of informatization is not high., The supervision ability needs to be improved, which restricts the effective performance of the financial and accounting supervision function. At the same time, the phenomenon of lax financial discipline exists to varying degrees, such as illegal use of financial funds, frequent occurrence of financial fraud, distortion of accounting information, and failure of the duties of "gatekeepers" of some intermediary agencies, which seriously violate national financial discipline and disrupt the order of the market economy. there is an urgent need to strengthen supervision and governance norms.

, an industry insider told the Economic Observer: "The impact of accounting supervision is society-wide, from the three levels of finance to finance and accounting, both at the corporate level and at the individual level."

told reporters that after years of inspection, many problems have been found in the quality supervision of accounting information, and even some problems have a tendency to come back. In the case of tight financial funds, some departments have the possibility of breaking through the lower limit. At this time, it is necessary to strengthen accounting supervision and internal control construction.

the significance of financial supervision

financial supervision? It is clearly pointed out in the Opinions that financial supervision is the supervision of the financial, financial and accounting activities of state organs, enterprises and institutions, other organizations and individuals in accordance with the law.

, the Party Group of the Ministry of Finance of the Communist Party of China mentioned in the article "Striving to Promote the High-quality Development of Accounting Supervision in the New Era" published by "Seeking Truth" that accounting supervision in the new era is not the traditional financial supervision, financial supervision and accounting supervision. The simple sum of supervision is the organic integration and condensed sublimation of the three. It is a kind of supervision behavior that covers the full coverage of finance, finance, finance, finance, and accounting supervision.

Shenzhen Guangshen Certified Public Accountants, told the Economic Observer that the focus of accounting supervision is on supervision, and the object of supervision is the financial management and accounting of various organizations. The main body of supervision is financial departments at all levels, other government professional departments (taxation, People's Bank of China, state-owned assets supervision, financial supervision, securities supervision), intermediary agencies (accounting firms, asset appraisal agencies, tax firms, agency bookkeeping agencies, etc.), industry associations (industry associations of various intermediary agencies).

this round of accounting oversight point?

said that the key tasks of accounting supervision have three aspects: first, to ensure the implementation of major decisions and arrangements of the central government; second, to strengthen the rigid constraints of financial discipline; and third, to severely crack down on financial and accounting violations. "Strictly investigate and deal with cases of financial fraud and accounting fraud that have a bad impact, and strengthen the accountability of those responsible. Strengthen the supervision of the financial and accounting practices of state-owned enterprises, listed companies and financial enterprises, strengthen the supervision of the quality of accounting information, and further strengthen the supervision of the quality of practice of accounting firms, asset appraisal agencies and other intermediaries."

, in the view of a grass-roots financial personage, this round of accounting supervision has been attached great importance to, which has something to do with the loss of financial and accounting supervision in many fields in the past few years, especially in the supervision of some listed companies and financial funds. This time, the introduction of the "opinions" has strengthened the original functions and functions.

and the financial sector to strengthen financial supervision is not without trace.

June 2022, public information shows that the Supervision and Evaluation Bureau since December 2020, the organization of some regulatory bureaus to carry out the strengthening of accounting supervision (accounting supervision direction) reform pilot, to explore the "key object list system" as the grasp of the normalization of the supervision path. Under the guidance of the Supervision and Evaluation Bureau, 11 regulatory bureaus, including Jiangsu, Shanghai, Zhejiang, and Xiamen, selected key enterprises and accounting firms (including branch offices) that are engaged in securities service business on the spot, and carried out normalized supervision of the "key target list system" First try.

, in fact, the Ministry of Finance has already launched actions to supervise and inspect personnel training since 2021. According to the website of the Ministry of Finance, from September 23 to 29, 2021, the first batch of students of the Ministry of Finance's Accounting Supervision and Inspection Talent Quality Improvement Project and Accounting Supervision Talent Pool (Supervision and Inspection Direction) held intensive training at the Beijing National Accounting Institute for the first time.

place in action

is being transmitted to the local level.

public information shows that on March 29, 2023, the Jiangxi Provincial Department of Finance and the Jiangxi Supervision Bureau of the Ministry of Finance held a mobilization and deployment meeting for the province's financial and accounting supervision and budget implementation supervision special actions, and proposed "zero tolerance" to combat accounting violations., Continue to improve the quality of accounting information and maintain the order of the market economy.

, the Gansu Provincial Department of Finance organized a provincial financial and accounting supervision work conference, and proposed to deploy and carry out the "four actions" of serious financial discipline in accordance with the unified deployment of the Ministry of Finance, combined with the actual conditions of the province, and severely crack down on financial and accounting violations., Standardize financial and financial management, improve the quality of accounting information, and maintain financial discipline and market economic order.

, the Hunan Provincial Government made public the General Office of the Hunan Provincial CPC Committee and the General Office of the Hunan Provincial people's Government issued the "implementation Plan on further strengthening Financial and Accounting Supervision." it is proposed that the implementation of financial discipline should be taken as an important part of the inspection and assessment of leading bodies and relevant leading cadres, and included in the scope of evaluation of leading cadres.

the above-mentioned local people in charge of accounting supervision told reporters, "to what extent is the current accounting supervision plan communicated to the local level? How should it be done? Local governments should combine their own practice to innovate. We are also studying how to strengthen accounting supervision and how to strengthen the construction of internal control supervision. Now there are small coffers, excessive collection and expenditure, and unreasonable project settings every year. We are studying how to resolve the above problems from the root of the budget."

"What is needed now is to pre-regulate the means of supervision and strengthen the internal constraints on departments and units." The person stressed.

wind up?

2021, the Fujian Regulatory Bureau of the Ministry of Finance mentioned in the article "Reflections on Building a New Era of Accounting Supervision System" that the relationship between accounting supervision and other economic supervision should be clarified. The article mentioned that on the basis of giving full play to the role of various supervision functions such as financial supervision, financial supervision, accounting supervision, and auditing of social intermediary agencies, the effective integration of supervision resources should be strengthened, supervision information sharing should be unblocked, and a financial supervision and financial supervision should be established. Supervision, accounting supervision, and auditing of social intermediary agencies perform their duties and are organically integrated.

, a person from a local financial regulatory department told reporters that to strengthen financial and accounting supervision, first, the central government has issued the "opinions" to local governments, and special actions have been taken at present; second, there are many problems in the financial and economic field, including the punishment of listed companies, financial institutions and intermediary institutions, which means that there are a lot of chaos in these areas, so it is necessary to carry out financial and accounting supervision.

The relevant person in charge of the Ministry of Finance said in response to a reporter's question in the "Opinions" that there are still some problems and shortcomings in the financial and accounting supervision work. The financial and accounting supervision system needs to be improved, the working mechanism needs to be straightened out, the rule of law needs to be improved, and the level of informatization is not high., The ability of supervision needs to be improved, which restricts the effective role of accounting supervision. At the same time, the phenomenon of lax financial discipline exists to varying degrees, such as illegal use of financial funds, frequent occurrence of financial fraud, distortion of accounting information, and failure of the duties of "gatekeepers" of some intermediary agencies, which seriously violate national financial discipline and disrupt the order of the market economy. there is an urgent need to strengthen supervision and governance norms.

can see that the regulatory authorities have paid attention to the importance and timeliness of strengthening accounting supervision. The article of Fujian Supervision Bureau puts forward two problems on the current accounting supervision, one is that the phenomenon of heavy accounting and light supervision is more common, and the other is that the independence of accounting supervision work in some units is not strong.

the above-mentioned local people in charge of accounting supervision believe that the current accounting supervision system is established, but there is a lack of punishment and disposal methods behind, and the problems found through accounting supervision are generally based on supplementary payment of funds, and the punishment and disposal behind are mainly based on the Commission for Discipline Inspection.

strengthening the supervision of accounting, it will not only affect administrative institutions, but also have an impact on enterprises and individuals.

Chen Shujun believes that the impact of accounting supervision is deep-seated. "First of all, strengthen the horizontal coordination of accounting supervision subjects, strengthen the vertical linkage between the central and local governments, and coordinate with other types of supervision. This is actually weaving a net of all organizations, and the economic behavior of all organizations is also linked to the inspection work. For example, by checking the working papers of intermediary agencies, it is possible to extend to the corruption of government procurement supervised by the party, and to the quality and disclosure of accounting information of other organizations."

Secondly, the economic behavior of each organization is basically checked under the same standard, and each inspection subject is treated fairly, reducing the operating space for the inspection results; finally, the organization is not standardized economic behavior to form a deterrent, and finally standardize financial management, improve the quality of accounting information and truthful disclosure.

, in Chen Shujun's view, the impact on enterprises and other economic entities, first of all, the consequences of financial supervision and inspection penalties are serious. For example, for financial fraud in the securities market, the actual controller and directors, supervisors and senior executives are fined millions or even tens of millions, and more serious The failure of financial indicators directly leads to the delisting of listed companies; secondly, because the government professional departments increase the inspection of various intermediary organizations, forcing intermediaries to improve the quality of their practice and services, prompting organizations to standardize financial management, improve the quality of accounting information and truthful disclosure. Through this indirect regulatory approach, change the shortcomings of the government's professional inspection coverage is minimal.