Certified Public Accountant Regulatory Legal System Research

In the past few years, a series of terrible fraudulent affairs such as China Aviation Oil Crop., Enron Crop., WorldCom Crop, have happened in the accounting field, which make Certified Public Accountants confront with a serious confidence crisis. We have to focus our eyes on the problems in the supervision of CPA profession. The article aims at how to better the supervision of CPA profession in China, though analyzing the theory basis and supervising modes, as well as the current supervision situation and the existing problems.Firstly, the article gives the introduction of the supervision theory which includes the value and the reason that why CPA should be supervised. Basic law theory, such as economic safety theory and social liability theory, lies first in this section; the second one is the analysis of characteristic regarding CPA profession. Viewed from economical stability, public interest guaranty as well as profession development the third is the significances and functions of supervision. The last depicts the legal value of CPA supervision, including the key value, fundamental value and functional value of itSecondly, the following passage states the present three methods: self-supervision mode, government-supervision style and independence -supervision one. In China, the government favors government-supervision mode. And analyses their features, advantages and disadvantages. By comparison the selecting principle could be concluded. Every country has its own characteristics on CPA supervision, which is up to the economic growth and actual situation of the country.Part Three is composed of three sub-sections: the current situation, the existing problems as well as the reasons of the problems in the CPA supervision of China. Among the given reasons, the key one lies in legal system, i.e. the binding power to the relevant responsibility is still lack. In this circumstance, the...