Will The Industry Be Responsible For The Financial Crisis?

Probing into coping with the financial crisis in the CPA profession

First, we must take responsibility for maintaining market order and building market integrity.

An important inducement of the outbreak of the international financial crisis is that the market signals have been distorted for a long time, so that the bubble of false prosperity is bigger and bigger, and the hole of credit overdraft is getting bigger and bigger.

It can be said that the lack of good faith leads to market disorder and finally leads to financial crisis.

We should draw a profound lesson from this serious lesson.

The pursuit of good faith in the market is the soil for the CPA industry to survive.

Honesty is the soul of the CPA profession.

The criteria for evaluating industrial and commercial products are physical and chemical standards, and only one criterion for evaluating CPA professional reports is integrity.

The importance of honesty to the CPA profession lies in the fact that it judges the integrity of others through professional services.

This requires firms not only to act as a good faith practitioner in general sense, but also to be a good judge and judge of fair market pactions.

To judge others' integrity, first of all, we must be honest and trustworthy. Whether we are honest or not depends on whether we can objectively and truly evaluate others' integrity.

The CPA profession is the beneficiary of market development. When the market is subject to fluctuations and crises, it will input credibility into the market.

Second, we need to shoulder the responsibility of implementing the national macro policy and enhancing market confidence.

In the face of the financial crisis, the CPA industry should give full play to its own professional advantages and provide services for the implementation of major macroeconomic policies and effective promotion of market confidence.

CPA auditing should not only supervise the use of funds, but also make in-depth analysis, make recommendations and promote the improvement of the system and system.

Play the professional advantage of accounting, decision making and analysis, participate in investment decision consultation, and allocate resources reasonably.

Third, we must take responsibility for the staff of the firm.

The CPA industry is an intellectual intensive industry. "Human fit" is the most distinctive feature of our industry, and human capital is the largest productivity in the industry.

Under the circumstances of financial crisis, the management of the firm, especially the partners, should set up the idea that employees and people are the most valuable resources. They should take the scientific attitude of being responsible for the society and responsible for the long-term development of the "human fit" organization, and strive to overcome difficulties, cherish and treat their employees, take internal rotation operations, pfer training, and moderate management of salary cuts, so as to avoid layoffs and layoffs.

Fourth, we must take responsibility for our customers.

When the customer business is facing the predicament brought by the financial crisis, the accounting profession should give full play to its professional advantages and provide responsible professional services for the enterprises to survive the financial crisis smoothly.

For example, to provide risk management consulting services; to carry out audit business, to be good at finding out the problems existing in the management of enterprises, and to put forward suggestions for improvement; to make use of professional knowledge and market experience to analyze the financial difficulties or operational risks faced by enterprises, and put forward constructive proposals; to provide advice and consultation in enterprise asset reorganization, merger and acquisition, reorganization and listing, to help enterprises standardize the trading behavior of foreign contracts, and to build up investment and financing platform for enterprises through consulting services.

Fifth, we must take responsibility for the same industry.

The financial crisis may lead to more intense market competition.