China’s Accounting Law: Legal Liabilities Stipulated in the Accounting Law
China’s Accounting Law: Legal Liabilities Stipulated in the Accounting Law
(2) In case of falsification or alteration of any accounting vouchers or accounting books or preparation of false financial reports, which constitutes a crime, criminal liability shall be incurred in accordance with the law. Where any of the above acts does not constitute a crime, the financial authority of the people's government at or above the county level shall circulate a notice of criticism, a fine of not less than RMB 5,000 but not more than RMB 100,000 may be imposed on the accountant, a fine of not less than RMB 3,000 but not more than RMB 50,000 may be imposed on the directly responsible chief and other directly responsible persons, an administrative penalty of removal from office or discharge from public employment shall be imposed on the actor by his employer or a competent authority if the actor is a State functionary, and the financial authority of the people's government at or above the county level shall revoke the accounting qualification certificates of such actors who are accountants.
Robert Zhang 
Steve Li 