China’s Accounting Law: Legal Liabilities Stipulated in Other Accounting Regulations
(1) Where a chief accountant commits any of the following acts in their work, a disciplinary sanction shall be imposed depending on the severity of the violation in accordance with the applicable regulations on rewards and punishments for employees of enterprises or administrative authorities of the State:
① Violating laws, regulations, guidelines, policies, or financial systems, resulting in severe chaos in accounting work;
② Failing to resist, dissuade, or report acts of tax evasion, withholding income that should be paid to the State treasury, paying bonuses and subsidies excessively, squandering and wasting national resources, and harming national interests, resulting in losses to national interests;
③ Severe mistake within the scope of their duty, or dereliction of duty, resulting in losses to national interests;
④ Abuse of power, practicing fraud, or favoritism for personal gain, resulting in losses to national interests or causing adverse effects;
⑤ Other dereliction of duty and serious mistakes.
If a chief accountant commits a crime by committing any of the acts listed above, criminal liability shall be incurred in accordance with the law.
Practising lawyers
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Robert Zhang
An international lawyer registered in Shanghai, China. Master's degreePublish…
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Steve Li
An international lawyer registered in Shanghai, China. Master's degreePublish…
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