Ministry of Finance, Matters Relevant to the Administration of Registration for Cross-province Established Branches of Accounting Firms Circular

Issued: May 24 2001

Main contents: After establishing a branch office, the head office of the accounting firm must employ adequate manpower and registered accountants, as stipulated in Item Six of the Administration of the Examination and Approval of Accounting Firm Branches Tentative Procedures (Item One).
Article 2 stipulates that within 90 days of receiving authorization for a merger by a finance department above the provincial level, limited liability accounting firms should re-register or amend their registrations. Failure to register within 90 days will result in invalidation of the merger authorization. After the merger, one or both parties must cease operating under its (their) original name and complete liquidation within 90 days.
Where two firms are merged or a branch office is established, the procedures for the transfer of accountants to the post-merger establishment(s) or to the branch office must be completed within 15 days of registration with the administration for industry and commerce (Article 3).
Related legislation: Administration of the Examination and Approval of Accounting Firm Branches Tentative Procedures, 2000; PRC, Administration of Company Registration Regulations, Jun 24 1994, CLP 1994 No.6 p4
Repealed legislation: Ministry of Finance, Relevant Matters Arising in the Course of Expanding Accounting Firms Supplementary Circular, 2000