Author

Theo Ling

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China’s revised Measures on the Administration of Accounting Records came into effect on 1 January 2016 with a view to improving the administration of accounting records. Companies are encouraged to use information technology solutions to manage accounting records, and may keep electronic accounting records if certain conditions are satisfied that ensure the accuracy, reliability and completeness of the accounting records. Additionally, longer retention of certain accounting records is now required. Highlights of the new accounting…