On March 6, the “Guangzhou Certified Public Accountants Association Public Welfare Series Lecture – Legal Risks and Compliance in the Certified Public Accountants Industry under the New Company Law” salon event was successfully held in Longan Guangzhou. The aim was to help members of the Guangzhou Certified Public Accountants Association gain a deeper understanding of the relevant provisions and updates of the new Company Law, enhance their legal awareness and risk prevention capabilities, and promote the standardized development of the certified public accountants industry. This lecture was presented by Lawyer Zhang Jing, Senior Partner of Longan Guangzhou and Director of the Company Law Professional Committee, and Lawyer Chi Meng, Senior Partner and Non-Practicing Member of the Guangzhou Certified Public Accountants Association. Li Yongru, Deputy Secretary-General of the Guangzhou Certified Public Accountants Association, and three other leaders, along with 38 members, attended the event in Longan Guangzhou to provide guidance and participate in the lecture. A live online broadcast was also conducted, with approximately 1,800 people watching.
Lawyer Zhang Jing
Senior Partner of Longan Guangzhou, Director of the Company Law Professional Committee
Lawyer Zhang Jing shared her insights on “Matters that Financial Personnel Should Pay Attention To under the New Company Law”. First, she discussed the key points of the amendments to the new Company Law, such as the acceleration of the capital contribution deadlines of shareholders and their implications, as well as strategies for dealing with these issues. The acceleration of shareholder capital contributions has reactivated the crime of “two false payments and one evasion”. It is also required that assessment/capital verification institutions bear corresponding legal responsibilities. Then, Lawyer Zhang analyzed in detail the capital maintenance and due diligence obligations of financial personnel under the new Company Law. She also pointed out the impact of the real payment system for the establishment of joint-stock companies under the new Company Law – after July 1, 2024, when a limited company is transformed into a joint-stock company, all capital must be paid in full. Finally, by comparing the old and new versions of the Company Law, Lawyer Zhang explained in detail the issues related to shareholder dividends and shareholders’ rights under the new Company Law. She also analyzed the liability that financial personnel should bear when there are problems with irregular dividends or when dividends are not paid properly.
Lawyer Chi Meng
Senior Partner of Longan Guangzhou, Non-Practicing Member of the Guangzhou Certified Public Accountants Association
Lawyer Chi Meng shared her insights on “Legal Risks and Compliance in the Certified Public Accountants Industry – Using Cases to Explain the Issues”. First, she analyzed the impact of the new Company Law on the certified public accountants industry, and pointed out the common legal risks and compliance measures in this industry. Under the background of the new Company Law, there may be several trends in the future: the registered capital of newly established companies will become smaller and smaller; there will be an increase in the reduction of capital, cancellation, and transfer of existing companies; false capital contributions and advance payments may become problems; and the methods of shareholder capital contributions may change. Then, Lawyer Chi focused on the common legal risks and compliance measures in the certified public accountants industry. Through case-based explanations, she analyzed in detail the administrative responsibilities, civil responsibilities, and potential criminal risks during the practice of certified public accountants. Among these, the crimes of providing false documents and issuing significantly inaccurate documents are common criminal offenses in the field of certified public accountants. Lawyer Chi pointed out that the premise and foundation of compliance is to strengthen the study of laws, regulations, and guidelines. The key to compliance is to establish a systematic compliance system, and to set up both “preventive measures” and “post-event rectification” measures.
Finally, the two speakers and the members of the Guangzhou Certified Public Accountants Association took a precious photo together before the word “Longan”. This marked the successful conclusion of the “Guangzhou Certified Public Accountants Association Public Welfare Series Lecture – Legal Risks and Compliance in the Certified Public Accountants Industry under the New Company Law” event! Lawyers from Longan Guangzhou actively explored the key points of the amendments to the new Company Law. By carefully comparing the old and new versions of the Company Law, they provided professional legal and compliance guidance for various fields, such as certified public accountants and corporate management, which plays an important role in promoting the standardized and healthy development of the certified public accountants industry.