Only accounting firms qualified to carry out securities and futures related business can engage in this audit business, and one of the important conditions for these accounting firms to obtain securities and futures related business qualifications is to have a sufficient number of certified public accountants with securities and futures related business qualifications. The securities and futures industry is a knowledge-intensive and high-risk industry. In order to standardize the financial behavior of securities companies, improve the transparency and quality of financial information of securities companies and meet the needs of the development of the securities market. The Ministry of Finance and the China Securities Regulatory Commission issued the Interim Provisions on the Administration of Licenses for Certified Public Accountants to Carry out Securities and Futures-related Business (No.52 of the Accounting Association [1997]), which clearly stipulates that personnel who carry out securities and futures-related business shall pass the qualification examination organized by the Ministry of Finance and the China Securities Regulatory Commission and obtain business qualifications before engaging in securities-related business.

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