摘要
While the US was busy handling corporate scandals inthe wake of Enron and WorldCom, similar cases likeYinguangxia hit the capital market in China. The exposureof these scandals significantly hit the confidence of theinvestors and was a lead reason for the prolongeddepression of the Chinese stock market. The governmentsand accounting professions in both the US and Chinahave been trying hard to remedy the loopholes, but thetwo countries have taken completely different approachesin addressing the same issue, including setting accountingstandards and developing accounting regulatory practices.The author has provided an insightful analysis of thisissue and the special characteristics of China in this area.
While the US was busy handling corporate scandals inthe wake of Enron and WorldCom, similar cases likeYinguangxia hit the capital market in China. The exposureof these scandals significantly hit the confidence of theinvestors and was a lead reason for the prolongeddepression of the Chinese stock market. The governmentsand accounting professions in both the US and Chinahave been trying hard to remedy the loopholes, but thetwo countries have taken completely different approachesin addressing the same issue, including setting accountingstandards and developing accounting regulatory practices.The author has provided an insightful analysis of thisissue and the special characteristics of China in this area.
出处
《中国注册会计师》
2004年第3期17-20,共4页
The Chinese Certified Public Accountant
