The Accounting Law is the basic law that regulates accounting work. On June 28, the 10th meeting of the Standing Committee of the 14th National People's Congress voted to adopt the decision on amending the Accounting Law, which will come into force on July 1, 2024.
The current revision of the Accounting Law will keep the current basic system unchanged, focus on solving outstanding problems in accounting work, further strengthen financial and accounting supervision, increase the punishment of illegal accounting acts, effectively improve the quality of accounting information, and better safeguard the public interest.
Reporter: Shen Cheng
Source: Xinhua News Agency