Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA)

Accounting Services

 

CEPA
Sectors or sub-sectors	1. Business services
	A. Professional services
	b. Accounting, auditing and bookkeeping services (CPC862)
Specific commitments	1.	Hong Kong accountants who have already qualified as Chinese Certified Public Accountants (CPAs) and practised in the Mainland (including partnership) are treated on par with Chinese CPAs in respect of the requirement for annual residency in the Mainland.
	2.	The validity period of the "Temporary Auditing Business Permit" applied by Hong Kong accounting firms to conduct temporary auditing services in the Mainland is 1 year.

CEPA Supplement
Sectors or sub-sectors	1. Business services
	A. Professional services
	b. Accounting, auditing and bookkeeping services (CPC862)
Specific commitments	1.	To allow consultancy companies in the Mainland established by Hong Kong accountants that have satisfied the requirements of the Mainland's "Provisional Measures for the Administration of the Provision of Bookkeeping Services" to provide bookkeeping services. Hong Kong accountants providing bookkeeping services should have obtained the Mainland's accounting qualification certificate. In addition, the person in charge of the bookkeeping services should hold the relevant Mainland's professional qualification (professional title) of accountant or above.
	2.	When Hong Kong accountants apply for a practising  licence in the Mainland, the length of auditing experience that they have acquired in Hong Kong is equivalent to the length of auditing experience acquired in the Mainland.

CEPA Supplement II
Sectors or sub-sectors	1. Business services
	A. Professional services
	b. Accounting, auditing and bookkeeping services (CPC862)
Specific commitments		The validity period of the "Temporary Business Permit", applied by Hong Kong accounting firms for the purpose of conducting business on a temporary basis in the Mainland, is extended from one year to two years.

CEPA Supplement V
Sectors or sub-sectors	1. Business services
	A. Professional services
	b. Accounting, auditing and bookkeeping services (CPC862)
Specific commitments	1.	The validity period of the "Provisional Licence to Perform Audit-Related Services", applied for by Hong Kong accounting firms for the purpose of conducting auditing business on a temporary basis in the Mainland, is extended from two years to five years.
	2.	To permit the setting up of an examination centre in Hong Kong for holding the Mainland's Accounting Professional Technician Qualification Examination.
	3.	To allow Shenzhen and Dongguan in the Guangdong Province to set up dedicated examination centres for Hong Kong residents to sit the Mainland's accounting qualification examination and handle related matters. Those who pass the examination will be issued an accounting qualification certificate by the Guangdong Province.