As part of an ongoing effort to streamline red tape, on October 31 the National People’s Congress Standing Committee struck several provisions from a draft version of the Accounting Law currently under deliberation, which in turn affected the portion of the Foreign NGO Law related to accounting services. The alterations to the draft Accounting Law eliminate the need for accountants to obtain formal professional qualifications; instead, individuals’ capabilities and “professional morals” will qualify them to carry out this work.
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