On the issuance of "Interim Measures CPA professional liability insurance" in

On the issuance of "Certified Public Accountants
Professional Liability Insurance Interim Measures "notice
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Accounting ﹝ 2015 ﹞ 13 Hao
Provinces, autonomous regions and municipalities (bureaus), Shenzhen Finance Committee, the Insurance Regulatory Commission, all property insurance companies:
In order to standardize the accounting firm of professional liability insurance purchase behaviors, improve CPA professional liability compensation capacity, promote the sustainable development of the accounting firm, according to "People's Republic of China on Certified Public Accountants", "People's Republic of China Insurance Law" and other relevant laws and regulations, Ministry of Finance, China Insurance Regulatory Commission formulated the "Interim Measures CPA professional liability insurance", is hereby issued, shall go into effect July 1, 2015.
Treasury CIRC
June 30, 2015
annex:
Interim Measures CPA Professional Liability Insurance
General Provisions
Article 1 To standardize accounting firms and professional liability insurance purchase behaviors, improve CPA professional liability compensation capacity, promote the sustainable development of the accounting firm, according to "People's Republic of China on Certified Public Accountants", "People's Republic of China Insurance Law" and other relevant laws and regulations formulated.
The second term of the CPA professional liability insurance (hereinafter referred to as professional liability insurance), refers to the accounting firm and its partners, shareholders and other practitioners practicing activity caused by the principal or other interested party economic losses, It should bear the liability insurance.
CPA and its practice partners, shareholders and other practitioners, including their law to carry out audit and other non-audit services.
Article encourage accounting firms need to take out professional liability insurance in accordance with the present situation of the management and development. CPA insured professional liability insurance compensation limit reached cumulative amount in Article 9 or the provisions of Article X, it can no longer extract occupational risk fund. Addressing occupational risk fund has been extracted, in accordance with the agreed provisions of the relevant laws and regulations and accounting firms in the partnership agreement or articles of association shall apply.
Chapter II insured
Article CPAs unified management of the firm professional liability insurance policies. Branch of professional liability insurance, in principle, the insurance of the total.
Article-based accounting firm shall give priority to the audit of the business professional liability insurance policies.
CPAs may need to take out professional liability insurance for other non-audit services based on business risk and the degree of self-development.
Article professional liability insurance include primary insurance and additional insurance. CPAs can be insured on the basis of the primary insurance, the insurance-based insurance books file is missing, the first retrospective of insurance extension insurance and other additional risks.
Article insurance company shall establish a market-oriented professional liability insurance rates floating mechanism, premium rates were adjusted according to the accounting firm of floating-risk situations and historical payment record, promote accounting firms to strengthen quality control and risk management.
Article VIII of the accounting firm should be integrated with the business scope and scale of operation and risk control capacity and other factors, in consultation with the insurance company to determine the cumulative compensation limit professional liability insurance. The cumulative amount of the compensation limit should Article IX or Article X of reach.
The aforesaid cumulative compensation limit refers to the insurance contract the insurance company stated maximum amount of compensation for all losses within the insurance coverage.
Article IX in listed companies, high-risk corporate finance audit accounting firm, the cumulative limit of not less than the following two methods calculated a higher amount:
(1) The number of one million yuan and partner product (calculated according to the number when the insured);
(2) 50 million yuan.
Article X engaged in non-listed companies, non-financial enterprises audit of the accounting firm, the cumulative limit of not less than the following two methods calculated a higher amount:
(1) Recent accounting firm audit revenues a year;
(2) 500,000 yuan and partners (shareholders) of the product of the number (when calculated according to the number of insured).
Article XI professional liability insurance contract shall comply with the terms "People's Republic of China Insurance Law", and should include the following items:
(A) insurance liability contains CPA partners, shareholders and other practitioners practice activities caused economic losses of principal or other interested party due to unintentional act according to law and liability;
(B) the insurance period is one year or more;
(C) the agreed reasonable period or retroactive reporting period;
(Iv) the accounting firm was brought for arbitration or litigation, arbitration or litigation costs and other necessary and reasonable legal fees, unless the contract provides otherwise, shall be borne by the insurance company.
Article XII of the accounting firm when the insured shall provide necessary information to insurance companies, truthfully inform management and the risk situation.
In the life insurance contract, if the insurance contract for the important issues changed, the accounting firm shall promptly notify the insurance company.
Article XIII insurance company shall explain the terms of the content of the insurance contract to the accounting firm, in particular, liability exemption clause. Not illustrated, the liability exemption clause is not effective.
Article XIV of the insurance company and its staff on information provided by the accounting firm obligation to keep confidential.
Chapter Compensation
Article XV CPA happen this approach because Article II of the principal or practicing activities caused economic losses of other interested parties, should bear the liability situation, the insurance company should be in accordance with the agreed contract of insurance compensation.
Article 16 An insurance company shall strictly fulfill the obligations under the insurance contract, with no malicious drag compensation, but unfortunately lost, unreasonable exclusions and other damage CPA legitimate rights and interests.
Article XVII accounting firms and insurance companies on the terms of the contract or compensation matters disputed, may apply for arbitration in accordance with the mutual agreement or file a lawsuit to the people's court.
The terms of insurance contracts using the format provided by insurance companies entered into accounting firms and insurance companies on terms of the contract or compensation controversial matters, it shall be interpreted according to general understanding. Two or more interpretations, the people's court or arbitration body shall be conducive to the interpretation of the accounting firm.
Article XVIII provincial finance department, Institute of Chartered Accountants could be established in conjunction with the provincial insurance regulatory authorities, insurance industry associations Vocational Expert Committee liability insurance, insurance contracts fulfilling dispute that may arise to provide expert opinion, for the judiciary or the respect reference.
Chapter IV Supervision and Inspection
Article XIX accounting firm shall annually before May 31 will be a copy of the professional liability insurance policy issued by an insurance company or the accounting firm has professional liability insurance policies related proof local provincial finance department and the Institute of Chartered Accountants for the record .
Insurance contract changes or cancellation, the relevant supporting accounting firms should be changed or new insurance contracts signed relevant proof local provincial finance department and the Institute of Chartered Accountants for the record.
Article XX provincial finance department and the Institute of Chartered Accountants requires insurance companies to help provide the accounting firm of insurance, claims and other necessary information and dangerous condition, the insurance company should provide.
Article XXI provincial finance departments and insurance regulatory departments are accounting firms and insurance companies to handle the case of professional liability insurance supervision and inspection, may carry out joint inspection when necessary.
Chapter V Penalty Provisions
Article 22 accounting firms in violation of the provisions of the provincial finance department shall be imposed, if it fails, as a key regulatory targets and make an announcement drew audit Principal, other stakeholders and society public concern occupational liability capacity of the accounting firm.
Article 23 The insurance company accounting firm professional liability insurance, violation of the insurance clauses and premium rate management regulations shall be punished in accordance with the "People's Republic of China Insurance Law" and relevant provisions of the insurance regulatory department.
Chapter VI Supplementary Provisions
Article 24 These Measures shall go into effect July 1, 2015. After the implementation of this approach, after the provisions of the existing measures inconsistent with the present Measures shall prevail.
Article 25 These Measures shall be established before the accounting firm, to encourage their extraction within 5 years from the completion of the occupational risk insurance fund the transition to a professional liability insurance as soon as possible.
After the implementation of this approach newly established accounting firms, are encouraged to give priority to take out professional liability insurance liability ways to improve vocational skills.