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Hainan Outlines Accounting and Auditing Sourcing Protocols

The Hainan Institute of Certified Public Accountants has released the findings of the latest assessment of accountancy and auditing firms conducted by the China Institute of Certified Public Accountants. In line with a directive from the Hainan Provincial Government, this data may be used as the basis for local procurement bodies to source such services.

In the case of public auditing / accountancy assignments valued at RMB2 million (US$300,000) or below, the relevant procurement body can choose the service provider at its own discretion. In the case of assignments where the fee is likely to exceed RMB2 million, the contract should be awarded on the basis of an open tender.

For further details (in Chinese), please access the following link:

Guiding Opinions of the General Office of the People’s Government of Hainan Province on Improving the Business Environment of Accounting and Auditing Services in Hainan Province

Content provided by Picture: HKTDC Research
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