The Ministry of Finance and the China Securities Regulatory Commission (CSRC) have revised and reissued the Measures for the Record-filing Management of Accounting Firms Engaged in Securities Service Business, updating the record-filing regime for firms that provide audit and assurance services linked to securities issuance, listing, trading and related activities. The revision is intended to strengthen supervision and standardise record-filing practices, with a stronger focus on professional competence and audit quality. The updated Measures comprise five chapters and 21 articles, covering scope and general provisions, record-filing requirements and submission methods, verification and related supervisory arrangements, and legal liabilities, and include standard templates for initial and annual filings and partner/CPA information. Key changes include enhanced initial filing requirements to steer firms toward stronger integrated management and quality management, improved ability to bear professional liability risks and stronger credit-based constraints; a more complete supervisory “closed loop” via expanded material event and annual filing requirements, checks on continued compliance after initial filing, and added processes for rectification and deregistration to enable orderly entry and exit; and closer alignment with the Certified Public Accountant Law, the Securities Law and related Ministry of Finance rules and disclosure requirements, alongside updates to filing workflows, templates and drafting. The revised Measures took effect on 14 April 2025, with transitional arrangements referenced in the text. The Ministry of Finance and CSRC plan implementation through additional guidance and interpretation, upgrades to filing systems and inter-agency information sharing, and coordinated on-site and off-site verification and public announcement processes.

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