On April 8, China injection Association reported that 15 national banks including Industrial And Commercial Bank Of China Limited(601398) , China Minsheng Banking Corp.Ltd(600016) , Hua Xia Bank Co.Limited(600015) , China Merchants Bank Co.Ltd(600036) and more than 400 local legal person banks have realized the centralized processing of letter business.
The China injection Association said that this is a substantial progress in the implementation of relevant measures of GBF No. 30 and Cai Kuai [2020] No. 12. The centralized processing of correspondence is an important link in the digitization of correspondence business, which is conducive to the banking financial institutions to strengthen internal control and prevent financial risks. It is also conducive to the certified public accountants to identify the errors and fraud of financial statements in the audit work.
China injection Association said that under the guidance of the Ministry of finance, China injection association actively promoted the centralized processing of bank letters. In 2016, the Ministry of Finance and the China Banking and Insurance Regulatory Commission issued the notice on further standardizing bank letters and replies, which pointed out that banks are encouraged to upgrade and expand the functions of information systems and establish a centralized processing mechanism for bank letters. In 2020, we will promote the revision of Document No. 13 and issue supporting operation guidelines, promote the centralized processing and digitization of reply letters, and remind banks and financial institutions that they should designate special departments to be responsible for reply letters to realize centralized processing. On July 30, 2021, the State Council Office issued the opinions on further standardizing the financial audit order and promoting the healthy development of the certified public accountants industry, which specifically proposed to further standardize the bank letter business, strengthen the construction of the bank letter digital platform, and accelerate the process of intensification, standardization and digitization of letter.
Since 2020, CICPA has actively supported the construction of correspondence platform, cooperated with many institutions and promoted the digitization of correspondence business. In January 2022, some accounting firms were organized to participate in the pilot work of bank correspondence in accordance with the requirements of the notice on carrying out the pilot work of bank correspondence jointly issued by the Ministry of finance, the people’s Bank of China, the SASAC, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission.
