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	SUPPLEMENTARY PROVISIONS OF THE PROVISIONS ON THE TEMPORARY AUDITING BUSINESS CARRIED OUT IN THE MAINLAND BY ACCOUNTING FIRMS OF HONG KONG, MACAO, AND TAIWAN (TRIAL)

	(Notice of the Ministry of Finance on Distributing the Supplementary Provisions of the Interim Provisions on the Temporary Auditing Business Carried out in the Mainland by Accounting Firms of Hong Kong, Macao, and Taiwan (Trial) (No.33 [2003] of the Ministry of Finance) November 26, 2003: The Supplementary Provisions of the Provisions on the Temporary Auditing Business Carried out in the Mainland by Accounting Firms of Hong Kong, Macao, and Taiwan (Trial) are formulated and shall come into force as of January 1, 2004)


SUBJECT : TEMPORARY AUDITING BUSINESS CARRIED OUT IN THE MAINLAND BY ACCOUNTING FIRMS OF HKSAR, MSAR & TAIWAN; SUPPLEMENTARY
ISSUING DEPARTMENT : MINISTRY OF FINANCE OF THE PEOPLE'S REPUBLIC OF CHINA
ISSUE DATE : 11/26/2003
IMPLEMENT DATE : 01/01/2004
LENGTH : 269 words
TEXT :

In order to promote closer economic partnership between Hong Kong, Macao, and the mainland, and in accordance with the Mainland/HongKong Closer Economic Partnership Arrangement and the Mainland/Macao Closer Economic Partnership Arrangement approved by the State Council, the following supplementary provisions are hereby made with respect to the Interim Provisions on the Temporary Auditing Business Carried out in the Mainland by Accounting Firms of Hong Kong, Macao, and Taiwan (No.81 [94] of the Ministry of Finance):

1. Where a Hong Kong, Macao, or Taiwan accounting firm, which has not established any agency in the mainland to undertake auditing business, accepts the entrustment of a client of the place where the firm is located or a client abroad and needs to carry out temporary auditing business in the mainland, that firm shall file a written application with the finance authority at the provincial level of the place where the auditing business is to be carried out; and if the temporary auditing business is to be carried out in more than one provinces (autonomous regions, or municipalities directly under the Central Government), that firm shall file an application with the Ministry of Finance, and may carry out the business only after the approval is granted.

2. The license for temporary auditing business of Hong Kong accounting firms and Macao auditing companies will be valid for a year from the day of issuance.

3. The accounting firms of Hong Kong, Macao, and Taiwan that apply for temporary practice no longer need to pay any charges when drawing the license.

4. The present Supplementary Provisions shall come into force as of January 1, 2004.