On Aug. 7, CHI GVT issued rules on accounting information systems.
CHI GVT issued Work rules for accounting informatization and Basic functions and service standards for accounting software, aimed at aligning with the Accounting law.
To promote healthy development of accounting information systems; update functionality, service standards of accounting software, improving quality and service.
Follows CHI PRL Jun. 2024 passed the Accounting law effective Jul. 1, 2024, #209624.
Rules re Accounting Informatization
Rules aim to enhance standardization and quality of accounting in the digital economy.
Entities must prioritize development, application of accounting information systems; compliance with national software functionality and service standards is mandatory.
Entities shall align accounting information system developments with organizational goals, ensure system security and compliance, and optimize cost-effectiveness.
Design, integration of accounting information systems should promote management efficiency and innovation in business processes and organizational structures.
Entities are encouraged to standardize accounting processes, integrate information systems with other business systems to improve data consistency, resource sharing.
Comprehensive guidelines have been provided for secure management of electronic accounting vouchers, legal equivalency of electronic and paper accounting documents.
Standards for Accounting Software
Standardize functionalities and services of accounting software; applicable to all entities using accounting software within China, including international branches.
Must support direct data collection; generation of accounting vouchers, books, and reports; and enable data storage, transformation, output, analysis, and utilization.
Also ensure continuous updates and compatibility with evolving national standards.
Ensure stability to prevent system errors, recover quickly from disruptions; maintain robust security measures to protect against unauthorized access and cyber threats.
Ability to use various input methods and validation of data accuracy; support automated generation and customization of accounting reports according to national standards.
Keep software technologically updated and aligned with national accounting standards; provide comprehensive support and training to ensure effective software utilization.
Uphold security standards, particularly in configurations using remote access or cloud computing; implement measures for data encryption, secure transmission, recovery.
Effectiveness
The work rules and standards are effective from Jan. 1, 2025.
