Reuters

China strengthens supervision of accounting firms in fight against forgery

China said on Monday it will tighten scrutiny over accounting firms in a fight against financial forgery, vowing “zero tolerance” toward misconduct. The guidelines, published by China’s State Council, or cabinet, come as Beijing launches a flurry of regulatory crackdowns against sectors ranging from Internet to tutoring. China will publish detailed rules on the supervision of accounting firms, and will increase the frequency of inspections, while stepping up punishment, the guidelines said.

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