To facilitate state reform and open policy, the 1982 Constitution of the People’s Republic of China set up the foundation of auditing profession in China. Over the past decades, auditors have played a very important role in maintaining state financial and economic order and strengthening the construction of uncorrupted governments.
The promulgation of the Audit Law in 1994 is a milestone of auditing profession in China. It regulated various aspects relating to auditing business. in 2010, 38 auditing principles are modified and promulgated and have become effective since 1 January 2012. As of the end of 2010, there were 7,785 Chinese accounting firms and 96,498 Chinese CPAs in mainland China.