China Accounting News Weekly[No. 24]2007.10.13-2007.10.19

Analysis of annual report audit for 2006 completed
Recently, the CICPA accomplished an analysis of annual report audit of listed companies for 2006. According to the result, there were 67 accounting firms which audited annual reports of 1456 listed companies for 2006. They have adjusted 46.2 billion Yuan of gross profit, 8.8 billion Yuan of tax payable, and 237.1 billion Yuan of total assets.

Guide on CPA's competence issued
On October 11, the CICPA issued the Guide in order to implement "Guidelines on strengthening the training of talent in accounting industry" and meet the requirement of CPA's competence to promote the industry bigger and stronger and introduce internationalization strategy.

Regulations on registration of chattel mortgage issued
With purpose of promoting the currency in capital and commodity and guaranteeing the creditor's rights, the State Administration for Industry and Commerce issued the Regulations on October 17. It went into effect on the same day.Great changes in Customs Import and Export Tariff of 2007 editionThe Customs pointed out that there are many important changes in Customs Import and Export Tariff of 2007 edition, comparing with the 2006 edition. The changes involved 1600 8-digit HS codes, which means more than 20% of all 8-digit codes. The tariffs were also adjusted.
Proofreader : littlerui
October 19, 2007 14：05PM. Released by http://www.esnai.com/

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.