Research On The Development Of Small And Medium-Sized Accounting Firms Under The New Securities Law

As small and medium-sized enterprises play a strong part in China’s economic development,small and medium-sized audit firms also offer services to the economy and society,and enhance the China’s economy growth towards high quality and high level.With the blossom of the CPA industry in China,the development of different firms is uneven.Large accounting firms are far ahead in scale,income and number of participants,small and medium-sized accounting firms are also facing or experiencing various internal problems in their own development.Most importantly,limited by the previous examination and approval system,small and medium-sized firms could not enter the securities market and could only provide services for customers outside the securities market.However,the implementation of the new "Securities Law" has lowered the entry threshold for the securities market,and many firms will enter the securities market after filing.From the perspective of the new "Securities Law",this thesis analyzes the development situation faced by those firms,and selects typical and representative case for anatomy,which is of enlightening significance for the current development of small and medium-sized firms.Firstly,this thesis briefly introduces the history and development of the CPA profession,and compares and dissects the gap between small and medium accounting firms and large accounting firms,and then analyzes some problems faced by small and medium accounting firms in the development process.Afterwards,the thesis analyzes the opportunities for small and medium-sized firms due to the implementation of the new "Securities Law",as well as the risks faced by small and medium-sized firms in undertaking securities business.Furthermore,taking the Tang Certified Public Accountant Ants as an example,the first small and medium-sized accountants which entered the securities market to undertake securities business after the implementation of the new policy,the thesis introduces the process of its first order for securities business of listed companies,and analyzes its shortcomings and problems in undertaking securities business.Finally,this thesis puts forward relevant suggestions for the development directions and improvement paths of small and medium accounting firms under the new situation,and also puts forward corresponding suggestions for the external environment,hoping to promote the healthy and sustainable development of small and medium accounting firms.