Archived（May 28, 2018）

(Originally Adopted at the 28^th Meeting of first session of the Standing Committee of Shenzhen Municipal People’s Congress on February 24^th, 1995, as revised in Accordance with the Decision on Revision of Administrative Regulations of Shenzhen Special Economic Zone on Certified Public Accountants of the Fifteenth Meeting of the third session of the Standing Committee of Shenzhen Municipal People’s Congress on April 26th, 2002.)

Chapter I General Provisions

Article 1 In order to standardize the act of the certified public accountants, to strengthen the administration of the trade of the certified public accountants, to protect the social public benefits and the lawful rights and interests of the investors, and to promote the healthy development of the socialist market economy, taking into account the specific conditions of Shenzhen Special Economic Zone (hereinafter referred to as “Special Zone”), these regulations are hereby formulated in accordance with Law on Certified Public Accountants of the People’s Republic of China, and basic principle of related national laws and regulations.

Article 2 These regulations shall be applicable to any independent audit and related operations in the Special Zone.

In these regulations, Independent Audit means any audit undertaken by certified public accountants stipulated by laws and regulations.
Article 3 Shenzhen Municipal People’s Government Finance Department (hereinafter referred to as “Municipal Finance Department”) is the administrative department in charge of trade of certified public accountants, in accordance with laws and regulations, and shall exercise the supervision, administration and direction over the certified public accountants, certified public accountants firms and Shenzhen Municipal Certified Public Accountants Association (hereinafter referred to as “Municipal Certified Public Accountants Association”).

The Municipal Certified Public Accountants Association is the Self-Discipline Organization in charge of trade of certified public accountants.
Article 4 Shenzhen Municipal People’s Government Auditing Department (hereinafter referred to as “Auditing Department”) shall exercise the supervision over the Audit Reports of State-Owned Corporations issued by certified public accountants in accordance with laws and regulations.

The Municipal Auditing Department shall have the authority to supervise of income and expenses audit of certified public accountants firms whose asset mainly owned by the state.

Article 5 Certified public accountants and certified public accountants firm shall abide by laws and regulations, strictly conform to the practicing rules and professional ethics code to execute the operation, they shall comply with principles of independence, impersonality and justification.

The certified public accountants and the certified public accountants firm shall implement the operations according to law, and shall be protected by law.

Chapter II Certified Public Accountants

Article 6 The certified public accountant is a professional who has obtained the Chinese certificate to practice of the certified public accountant, and is authorized to undertake independent audit and related operations.

Anyone without certified public accountant certificate shall be prohibited to undertake related activities using the title or in the name of certified public accountant.

Article 7 Certified public accountants shall join a certified public accountants firm to implement the operation.

Article 8 The following auditing operations shall be undertaken by the certified public accountants:

(1) To examine accounting report of an enterprise, and issue the auditing report;

(2) To verify the capital of the enterprise, and issue the capital verification report;

(3) To act on behalf of enterprises to declare taxation, and issue the taxation report forms;

(4) To conduct the auditing operation on the reorganization, amalgamation, separation, rectification, dissolution and bankrupt liquidation events of an enterprise, and issue relevant report;

(5) Other auditing operation stipulated by laws and regulations.

The above reports issued by the certified public accountants in accordance with laws and regulations shall have the legal evidential effect.
Article 9 Certified public accountants may undertake the following auditing operations:

(1) To design accountant system of an enterprise, act as accounting consultant, and train accountants.

(2) To undertake the operation as enterprises registration agent;

(3) To conduct assets evaluation;

(4) To provide finance, accountant, taxation, investment service and other consultation and service.

Article 10 Anyone who has attended and passed the national uniform qualification examination of the certified public accountants, and has practiced the auditing operation in a certified public accountants firm for more than two years may apply to the Municipal Certified Public Accountants Association for registration as Chinese certified public accountant.

Article 11 To apply for the registration of certified public accountants, the applicant shall submit the following documents to the Municipal Certified Public Accountants Association:

(1) Personal application report;

(2) Certification of all-subjects qualified of examination for certified public accountants;

(3) Certification issued by the certified public accountants firm in which the applicant practiced for more than two years;

(4) Employment contract or employment remove certification of the certified public accountants firm in which the applicant practiced;

(5) Recommendation letter of two certified public accountants;

(6) List of auditing items in which the applicant participated.

Article 12 The Municipal Certified Public Accountants Association shall make a decision on approval or disapproval within sixty days upon accepting the application. To the applicant approved, the association shall grant the certified public accountants certificate of the People’s Republic of China which printed uniformly by the state; To the applicant disapproved, the association shall inform the applicant in writing within 10 days after the decision. In case the applicant objects to the decision, he may apply for reconsideration to the Municipal Finance Department within 15 days after receiving the notice of disapproval.

Article 13 The applicant shall not be registered or shall be revoked of registration by the Municipal Certified Public Accountants Association in case he falls into any one of the following circumstances:

(1) Without civil capacity of conduct or with limited civil capacity of conduct;

(2) Punished for a crime of fixed-term imprisonment or above, it is less than five years from the date of completing the criminal punishment, except negligent crime;

(3) Subjected to administrative punishment and disciplinary sanction above dismissal from post due to illegal economic acts, and it is less than three years from the date of the decision for such punishment of sanction;

(4) Revoked of the certificate of the certified public accountant, and it is less than five years from the date of the decision on revocation;

(5) Lost the capacity of debt redemption;

(6) Having violated rules on registration by providing false materials, and

(7) Other circumstances that the applicant shall not be registered or shall be revoked of registration stipulated by laws and regulations.

In case the person revoked of registration object to the decision, he may apply for reconsideration to the Municipal Finance Department within 15 days after receiving the notice of revocation.

The person revoked of registration may again file an application, but the application shall be in accordance with related provisions of these regulations.

Article 14 The certified public accountants shall accept annual examination implemented by the Municipal Certified Accountants Association, and only those who are up to standard can carry over their operations.

Chapter III Certified Public Accountants Firm

Article 15 The certified public accountants firm is the professional service institution established in accordance with law to undertake the operations of the certified public accountants.

The forms of certified public accountants firms may be in partnership, in individual, and with legal person status.

The establishment of certified public accountants firm is initiated by certified public accountants.

Party and government organizations, enterprises and institutions, social organization and other organizations shall be prohibited to establish certified public accountants firms.

Article 16 The partners of partnership certified public accountants firm shall bear unlimited joint and several liabilities for debts of the firm.

The certified public accountant of an individual certified public accountant firm shall bear unlimited joint and several liabilities for debts of the firm.

Those certified public accountants firms with juristic personality shall bear liabilities for debts of the firms by all of its assets. But those certified public accountants firms have juristic personality shall be limited to reorganization of certified public accountants firms owned by the whole people which established before these regulations come into force.

Article 17 The establishment of partnership certified public accountants firm shall meet the following requirements:

(1) There are more than five full-time practicing personnel who have Chinese certificate of certified public accountants;

(2) The registered capital shall be no less than 500,000 yuan;

(3) Have permanent practicing place and essential equipments.

Article 18 Initiator of partnership certified public accountants shall meet the following requirements:

(1) Having Chinese certificate of certified public accountants;

(2) Having practiced auditing operations in the trade of certified public accountant for more than five years, and having no records of undesirable operations.

Article 19 To establish partnership certified public accountants firm, the initiator partners shall apply to the Municipal Certified Public Accountants Association, and submit the certification materials stipulated in Article 17 and Article 18 of these regulations.

Article 20 To establish individual certified public accountants firm shall meet the following requirements:

(1) The applicant shall have Chinese certificate of certified public accountants;

(2) The applicant shall have practiced auditing operations in the trade of certified public accountant for more than five years, and shall have no records of undesirable operations;

(3) The registered capital shall be no less than 500,000 yuan;

(4) Have permanent practicing place in Shenzhen and essential equipments;

(5) There are more than two full-time practicing personnel who have Chinese certificate of certified public accountants.

Certified public accountant to establish individual certified public accountants firm, he shall apply to the Municipal Certified Public Accountants Association and submit certification materials stipulated in the first paragraph of this Article.

Article 21 To establish a certified public accountants firm with juristic personality shall meet the following requirements:

(1) There are more than ten full-time practicing personnel who have Chinese certificate of certified public accountants, and at lest five of them are initiators;

(2) The registered capital shall be no less than 2,000,000 yuan;

(3) Have permanent practicing place and essential equipments.

Article 22 To establish a certified public accountants firm with juristic personality, the initiator shall meet the following requirements:

(1) Having Chinese certificate of certified public accountant;

(2) Having practiced the auditing operation in the other certified public accountants firm for more than five years, and shall have no records of undesirable operations.

Article 23 To establish a certified public accountants firm with juristic personality, the initiators shall jointly apply to the Municipal Certified Public Accountants Association and submit certification materials stipulated in Article 21 and Article 22 of these regulations.

Article 24 The Municipal Certified Accountants Association shall make a decision on approval or disapproval within sixty days upon accepting the application for establishment of certified public accountants firm. After the application for establishment approved, the Municipal Finance Department shall issue the applicant practice license; To the application for establishment disapproval, the association shall inform the applicant within 15 days after the decision. In case the applicant objects to the decision, he may apply for reconsideration to the Municipal Finance Department within 15 days after receiving the notice of disapproval.

Article 25 A certified public accountant shall be ordered to suspend business by the Municipal Certified Public Accountants Association after its establishment in case it fails to meet the conditions for the establishment due to personnel change or other reasons; It shall be revoked in case it still cannot meet the conditions for establishment within 90 days. The party may apply for reconsideration to the Municipal Finance Department within 15 days after receiving the decision for suspension of business or revocation of establishment in case it objects to the decision.

Article 26 The establishment of a branch of a certified public accountants firm in the Special Zone shall be approved by the Municipal Certified Public Accountants Association.

Article 27 Any certified public accountants firm outside Shenzhen shall be registered by the Municipal Certified Public Accountants Association to practice in the Special Zone; Any report issued in the Special Zone by the firm shall enclose with the written certification for registration of the business before the Municipal Certified Public Accountants Association, and shall accept the operation supervision implemented by the association.

Article 28 The permanent representatives of certified public accountants firm from Hong Kong, Macao, Taiwan and overseas, which approved to establish in the Special Zone, shall submit the following documents to the Municipal Certified Public Accountants Association within thirty days after the establishment approved:

(1) Duplicate document of approval for establishment of permanent representative issued by the Ministry of Finance;

(2) A copy of permanent representative certificate issued by the Ministry of Finance;

(3) Practicing place and contacting phone;

(4) Name and resume of the permanent representative.

Article 29 The permanent representatives established by the certified public accountants firms from Hong Kong, Macao, Taiwan and overseas shall accept the supervision and administration implemented by the Municipal Certified Public Accountants Association.

Article 30 The permanent representative of foreign certified public accountants firm shall practice the operation within the business scope ratified.

Article 31 To temporarily practice in the Special Zone, foreign certified public accountants firms shall get the approval to practice and handle the registration for practice according to provisions of related laws of the state.

Chapter IV The Certified Public Accountants Association

Article 32 The main official duties of the Municipal Certified Public Accountants Association are:

(1) To examine and approve the establishment of certified public accountants firms and the registration of certified public accountant, to carry out annual examination on certified public accountant and certified public accountants firm;

(2) To draw out practice rules and system for certified public accountants;

(3) To reflect advices and demands of the trade of certified public accountants, to protect the lawful rights and interests of certified public accountants;

(4) To carry out operation examination, to punish those certified public accountants and certified public accountants firms who violate laws and regulations;

(5) To organize qualification examination and training for certified public accountants;

(6) To intercede internal disputes of the trade;

(7) To organize operation communication, to advance the relationship with the same trade of Hong Kong, Macao, Taiwan and overseas.

Article 33 The members of the Municipal Certified Public Accountants Association include group members and individual members, individual members include practicing members and non-practicing members.

Those certified public accountants firms registered in the Special Zone shall join the Municipal Certified Public Accountants Association and be group members.

The Chinese certified public accountants practicing in certified public accountants firms registered in the Special Zone shall join the Municipal Certified Public Accountants Association and be the practicing members.

The following personnel shall join the Municipal Certified Public Accountants Association to be non-practicing members:

(1) Those obtain the certificate for all-subjects qualified of examination for certified public accountants;

(2) Those obtain qualification for non-practicing member of China Certified Public Accountants Association before these regulations coming into effect;

(3) Those practicing members who no longer carry out practice for reason of change of work.

Article 34 Group members and individual members shall abide by constitution of the Municipal Certified Public Accountants Association and pay prescribed membership dues.

Article 35 The membership meeting is the supreme power of the Municipal Certified Public Accountants Association; The membership meeting shall be convoked annually, but temporally meeting shall be convoked if one of the following circumstances occur:

(1) Proposed by the chairman;

(2) Jointly proposed by more than three directors;

(3) Jointly proposed by more than twenty members;

(4) Number of members of Board of Directors is less than two-third of quorum.

Article 36 The powers of the membership meeting are：

(1) To discuss, pass and revise constitution of the association;

(2) To elect and dismiss non-governmental-appointed directors;

(3) To discuss and pass development plan and annual working plan of the association;

(4) To discuss and pass annual working report and annual financial revenue and expenditure report.

Article 37 The board of directors consist of the following members:

(1) Three to five directors appointed by the Municipal Finance Department. Municipal Taxation Department and Municipal Auditing Department;

(2) Eleven to thirteen directors elected by certified public accountants.

Article 38 The board of directors is the executing body of the membership meeting, and its duties are:

(1) To report work to the membership meeting and execute resolution of the meeting;

(2) To advance development program of the association and draft of annual working plan;

(3) To advance revision scheme for constitution of the association;

(4) To make decision on the setting and authorities of internal framework;

(5) To examine and approve working scheme of the association, and to supervise on its implementation;

(6) To elect chairman and vice-chairman;

(7) To approve the registration of certified public accountant and establishment of certified public accountants firm;

(8) To punish those certified public accountants and certified public accountants firms who violated laws and regulations;

(9) To decide the candidates of the registration committee, punishment committee, and other special committee, and to supervise their work;

(10) To draw up measures on administration of risk fund uniformly managed by the association;

(11) To examine financial revenue and expenditure of the association, to examine and approve standard for membership dues and measures to collect it;

(12) Other proceedings stipulated by the association constitution.

The secretariat, which established under the board of directors, takes charge of daily work of the association.

Article 39 The registration committee, which established under the Municipal Certified Public Accountants Association, is in charge of examination of the establishment of certified public accountants and the registration of certified public accountants.

The punishment committee, which established under the Municipal Certified Public Accountants Association, brings forward advice for the punishment of those certified public accountants and certified public accountants firms who violated laws and regulations.

The registration committee and the punishment committee shall be responsible for and make work report to the board of directors.

Article 40 When examine operation of certified public accountants and certified public accountants firms, the Municipal Certified Public Accountants Association may look up and ask for working paper and other documents of certified public accountants.

The Municipal Certified Public Accountants Association and its staffs shall keep business secrets of party examined.

Except for the examination of daily operation conducted by the Municipal Certified Public Accountants Association, there shall be more than two staffs to conduct investigation and take evidence with their perfect instrument produced.

Certified public accountants, certified public accountants firms, related unit and individual examined, shall offer cooperation for the Municipal Certified Public Accountants Association.

Article 41 The Municipal Certified Public Accountants Association shall report its resolution and decision proceedings to the Municipal Financial Department.

The resolution and decision made by the Municipal Certified Public Accountants Association, which violate laws and regulations, shall be revoked by the Municipal Financial Department.

Article 42 The Municipal Certified Public Accountants Association shall be registered in accordance with laws and regulations and acquire the status of body corporate.

Chapter V Administration of Operations

Article 43 Only after checked and approved by the Municipal Certified Public Accountants Association and obtain practicing license issued by the Municipal Financial Department, can a certified public accountants firm carry out its business.
Article 44 When the certified public accountant undertakes and conducts operation, the certified public accountants firm which he belongs to shall uniformly accept and enter into the commission contract with the consignor.

The certified public accountants firm shall bear the civil responsibility for the operation undertaken by its certified public accountants in accordance with first paragraph of this Article.

Article 45 A certified public accountant shall withdraw in case he has the following interested relationship with the consignor:

(1) He had ever hold a post in the consignor and dismissed from it lest than five years;

(2) He himself, his spouse or his lineal descent has investment, loan or other economic interested relationship with the consignor;

(3) He has the spouse, lineal descent, lineal affinity or collateral consanguinity relationship with the director, manager or other related governor of the consignor;

(4) He hold the post of perennial accounting consultant or conduct accountant proceeding on behalf of the consignor;

(5) Other proceedings he shall withdraw for reason of keeping independence.

Except for operation charge, in case the certified public accountants firm has other economic interested relationship with the consignor, he shall withdraw.

Article 46 The certified public accountant shall issue the operation report in accordance with the working procedure specified by guidelines and requirements of the practicing rules when he implements the auditing operation.

The certified public accountant shall not commit the following acts when he implements auditing operation and issues auditing report:

(1) Not pointing out the contradiction of the financial and accounting disposal on the important issues of the consignor with the relevant provisions of the state knowingly;

(2) Knowing that the financial and accounting disposal of the consignor may directly harm the interest of the report user or other party interested, but covering up or makeing untruthful report;

(3) Not pointing out that the financial and accounting disposal of the consignor may conduce the significant misleading to the report user or other party concerned knowingly;

(4) Not pointing out that there are other untruthful contents on the important issues of the financial and accounting report of the consignor knowingly.

If the consignor commits the acts listed in the preceding paragraph that the certified public accountants shall know according to the practicing guideline and rules, the provision of the preceding paragraph shall apply.

Article 47 When a certified public accountant conducts an auditing operation, he shall refuse to issue the operation report under any one of the following circumstances:

(1) The consignor indicates him to provide untruthful or improper evidence;

(2) The consignor does not supply intentionally the accounting information and relevant documents;

(3) Due to other unreasonable requests of the consignor, the report to be issued by the certified public accountants cannot make correct description of the important issues of the financial accounting.

Article 48 The certified public accountants shall not commit the following acts:

(1) Within six months in the process of implementing to fulfilling the auditing operation, he himself, his spouse or his lineal descent trades the stocks and bonds of the unit being audited, or has assets trading, loans, tenancy or other economic interested relationship with the unit being audited;

(2) Demanding or accepting money or other valuables not prescribed in the commission contract, or taking advantage of his duty to seek other improper benefits;

(3) Allowing others to implement the operation in his name;

(4) Implementing the operation at two or more than two certified public accountants firms simultaneously.

Article 49 The certified public accountants shall bear the duty of keeping business secrets that he got to during the implementation of the operation, but it is otherwise in case the consignor approved in writing or required to provide by laws and regulations.

Article 50 It shall be prohibited that certified public accountants firm pay or pay in disguised form any unit or individual business introduction fees.

It shall be prohibited that any unit appoints certified public accountants firm to undertake relevant business for its jurisdiction counterpart.

It shall be prohibited that any unit and its staff seek improper profits for themselves by taking advantage of their position to introduce business to certified public accountants firm.

Article 51 A certified public accountants firm shall implement accountants system and financial administrative system laid down by finance department.

A certified public accountants firm shall uniformly account the revenue and expenditure of its branches. Contracted management shall be prohibited.

A certified public accountants firm shall submit accountant report to the Municipal Certified Public Accountants Association on schedule, and accept financial supervision implemented by the association.

Article 52 It shall be prohibited that certified public accountant and certified public accountants firm conduct propaganda by publishing, setting and placarding advertisement or in virtue of news media.

The public notice of practice, office movement and employment of certified public accountants firm shall be published in accordance with rules laid down by the Municipal Certified Public Accountants Association.

Article 53 Certified public accountants firm shall draw risk-fund by five percent from its business revenue.

Risk-fund shall be used to compensate damage caused by the certified public accountants firm during its operation.

Risk-fund shall be uniformly administrated by the Municipal Certified Public Accountants Association.

Risk-fund shall be deposited in special account and used as special fund.

The measures on administration of risk-fund shall be drafted by the Municipal Certified Public Accountants Association and submitted to the Municipal Finance Department for approval.

Article 54 Those certified public accountants firms with juristic personality shall purchase the professional liability insurance.

The minimum amount of insurance shall be stipulated by the Municipal Certified Public Accountants Association.

Chapter VI Legal Responsibility

Article 55 Certified public accountant, certified public accountants firm or other relevant person shall bear the liability for compensation in case they violate these regulations and cause harm to other relevant persons.

Article 56 Anyone who has violated the second paragraph of Article 6 shall be noticed to the public by the Municipal Certified Public Accountants Association and be imposed a fine of more than 5,000 yuan but less than 10,000 yuan by the Municipal Finance Department; His illegal income, if any, shall be confiscated; He shall be prosecuted for criminal responsibility in case he commits a crime.

Article 57 Anyone without certificate of certified public accountant undertakes the business stipulated in Article 8 of these regulations, his auditing report shall be invalid and his illegal income shall be confiscated, and he shall be concurrently imposed a fine of more than 2 times but less than 5 times of the illegal gains by the Municipal Finance Department; In case he commits a crime, he shall be prosecuted for criminal responsibility.

Article 58 The auditing report issued by anyone who carried over operation in violation of Article 25 shall be invalid. He shall be confiscated of his illegal income and imposed a fine of more than 1 time but less than 2 times of the illegal gains by the Municipal Finance Department.

Article 59 Any branches established in violation of Article 26 of these regulations shall be revoked by the Municipal Certified Public Accountants Association; In case of gross violation, it shall be imposed a fine of more than 10,000 yuan but less than 50,000 yuan by the Municipal Finance Department and have its practicing license revoked by the Municipal Certified Public Accountants Association.

Article 60 Any certified public accountants firm violated Article 27 of these regulations shall be imposed a fine of more than 10,000 yuan but less than 50,000 yuan by the Municipal Finance Department.

Article 61 Auditing report issued in violation of Article 30 and Article 31 of these regulations shall be invalid. The violator shall be confiscated illegal income and be imposed a fine of more than 2 times but less than 5 times of the illegal gains by the Municipal Finance Department.

Article 62 Auditing report issued by any certified public accountant firm that undertakes operations in violation Article 43 of these regulations having no license shall be invalid. The violator shall be noticed to the public by the Municipal Certified Public Accountants Association, have its illegal gains confiscated and be imposed a fine of more than 2 times but less than 5 times of the illegal gains by the Municipal Finance Department.
Article 63 Any auditing report issued in violation of Article 45 of these regulations shall be invalid and shall be circulated a notice of criticism by the Municipal Certified Public Accountants Association.

Article 64 Anyone shall be warned or suspended of the business by the Municipal Certified Public Accountants Association in case he violated Article 46, Article 47 and Article 48 of these regulations; In case of gross violation, he shall be revoked of practicing license and certificate of certified public accountant; Illegal income shall be confiscated by the Municipal Finance Department in case he gains; He shall be prosecuted for criminal responsibility in case he commits a crime.

Article 65 Anyone shall be warned by the Municipal Certified Public Accountants Association in case he violated Article 49 of these regulations; In case of gross violation, he shall have his certificate of certified public accountant revoked; In case he commits a crime, he shall be prosecuted for criminal responsibility.

Article 66 Anyone shall be imposed a fine of more than 10,000 yuan but less than 50,000 yuan by the Municipal Finance Department, and shall be circulated a notice of criticism by the Municipal Certified Public Accountants Association in case he violated paragraph 1 of Article 50 of these regulations; In case of gross violation, it shall be revoked of his practicing license by the association; In case he commits a crime, he shall be prosecuted for criminal responsibility.

Anyone shall be ordered to make corrections and be imposed administrative responsibility in case he violated paragraph 2 of Article 50.

Anyone shall be confiscated of his illegal gains and be imposed administrative responsibility in case he violated paragraph 3 of Article 50; In case he commits a crime, he shall be prosecuted for criminal responsibility.

Article 67 Anyone shall be imposed a fine of more than 20,000 yuan but less than 50,000 yuan by the Municipal Finance Department in case he violated Article 51 of these regulations; In case of gross violation, he shall be revoked of his practicing license by the Municipal Certified Public Accountants Association and be circulated a notice of criticism.

Article 68 Anyone shall be imposed a fine of more than 10,000 yuan but less than 20,000 yuan by the Municipal Finance Department, and shall be circulated a notice of criticism by the Municipal Certified Public Accountants Association in case he violated paragraph 1 of Article 52 of these regulations.

Article 69 The staff of the Municipal Certified Public Accountants Association shall be imposed discipline punishment in case he violated these regulations by neglecting his duties, misusing of his authorities, practicing irregularities for personal gains, and taking bribes; In case he commits a crime, he shall be prosecuted for criminal responsibility.

Article 70 The official of the Municipal Finance Department shall be imposed administrative responsibility by the Municipal Supervision Department in case he violated these regulations by neglecting his duties, misusing of his authorities, practicing irregularities for personal gains, and taking bribes; In case he commits a crime, he shall be prosecuted for criminal responsibility.
Article 71 In case the party concerned disagrees with the punishment decision made by the Municipal Certified Public Accountants Association, he may bring a litigation before the people’s court within 15 days after receiving the decision of punishment.

In case the party concerned disagrees with the punishment decision made by the Municipal Finance Department, he may apply for reconsideration to Administrative Reconsideration Department of the Municipal Government, or directly bring a litigation before the people’s court.

In case the party concerned neither applies for the reconsideration of the punishment decision within the time limit, nor files a lawsuit at the people's court, nor implements the punishment decision, the association that makes the punishment decision or the Municipal Finance Department shall apply to the people's court for compulsory enforcement.

Chapter VII Supplementary Provisions

Article 72 The public certified accountants firms and auditors firms established in the Special Zone before these regulations coming into effect shall be reorganized in accordance with these regulations and the reorganization shall be complete before December 31^st, 1996.

The specific measures on the reorganization are to be provided by the Municipal government.

Article 73 The detailed implementing measures shall be formulated by the Municipal People's Government according to these regulations.

Article 74 These regulations shall take effect as of April 1^st, 1995.