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China to Cultivate 10 Ultra-large Appraisal Institutions

The Ministry of Finance (MOF) has set the objective in a draft proposal of the 2011-2015 development plan for appraisal industry to cultivate around 10 ultra-large appraisal institutions with annual income exceed 1 billion yuan and have the ability to provide cross-border services.

 

SAT to Focus Investigation on 1000 Enterprises

The State Administration of Taxation (SAT) plans to investigate around 1000 important enterprises as the focus of this year’s taxation investigation. In terms of industry involved, equipment manufacturing and steel & nonferrous metals lead the pack, with both have more than 120 enterprises to be investigated. They are followed by petrochemical industry (around 100 enterprises involved), coal industry (around 70 enterprises), electric industry (around 70 enterprises) and infrastructure industry (around 40 enterprises). In terms of geography, enterprises located in Guangdong and Jiangsu are the focus of investigation.

 

Free Lunch, Free Audit

The Free Lunch Foundation released its 2011 annual financial report on 8 April 2012. The following day, Baker Tilly China issued audit opinion on the report. Through the transparent and credible information disclosure process, Free Lunch Foundation, the most famous charitable foundation recently, has proved the fact that the donation it received, which over 18 million yuan, the fund it spent, which over 3 million yuan, and 15 thousand students benefited is in line with its mission and objective.

 

Note:

“China Accounting News Weekly” is established on August 5, 2005. It selects important accounting news weekly to convenient the people can acknowledge the developments quickly. From its launching, thousands of people read it every week.
In order to promote the development of China accounting industry to English readers, we make this English edition on March 23, 2007. If there are any problems, please contact with
qiaobocao@snai.edu.

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