Auditing framework in the People’s Republic of China and the international auditing guidelines: some comparisons

Abstract

Outlines the history of auditing in China and the auditing standards and guidelines issued in 1997 to improve consistency in the audit of government departments and state‐run enterprises under the responsibility of the National Audit Office (NAO). Explains that they focus on auditing processes rather than more subjective areas but are used by the NAO’s audit bureaux and by private accounting firms, including those with international connections. Compares them with international auditing guidelines, which cover subjective issues but are aimed at commercial organizations. Recognizes some concern in China over the money spent on the NAO and calls for public education on the nature and purpose of audit, for parameters to be set to narrow the scope of auditors subjective judgements and for harmonization with international standards.

Citation

Chong, G. (2000), "Auditing framework in the People’s Republic of China and the international auditing guidelines: some comparisons", Managerial Finance, Vol. 26 No. 5, pp. 12-20. https://doi.org/10.1108/03074350010766648