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Audit and assurance

Audit and assurance are one of the most important services of Deloitte. The Audit & assurance practices for financial services industry can help assure the capital markets as to the financial position of companies and facilitate understanding of the management of risk inherent to business activities. The practices assist clients to develop confidence in the reliability of financial information, working to transform and adapt their organisations and systems from conception through to implementation.

Services offered

  • PRC GAAP financial statement audit

We have audited financial statements under PRC GAAP for multiple commercial banks, covering large state-owned commercial banks, joint-stock commercial banks, city commercial banks, rural financial institutions, subsidiaries of foreign banks in China, and foreign legal-person banks, etc.

  • IFRS financial statement audit

IFRS financial statements are prerequisite for commercial banks to go public in Hong Kong or introduce outbound strategic investors. Our professional teams have a deep insight into IFRS and have audited IFRS financial statements for numerous commercial banks.

  • IPO audit

We are thoroughly experienced in the transformation and listing process of commercial banks and close collaboration with banks and other professional service providers during this process. As reporting accountants, we have helped many joint-stock commercial banks go public successfully.

  • Special-purpose audit

In addition to the auditing of statutory financial statements and IPO financial statements, we also provide special-purpose auditing, mainly reflected in strategic initiatives, e.g. subordinated bonds issued by joint-stock commercial banks, merger and reorganization of city commercial banks, and diversified operation and M&A of commercial banks, thereby accumulating much experience in this manner.

  • Accounting advisory on asset backed securitisation

Deloitte plays a leading role in the field of Asset Backed Securitisation in the globe. Deloitte’s international expertise will guarantee strong support for Asset Backed Securitisation of financial institutions in China. In Chinese Mainland, Deloitte has established an independent professional team to offer multidisciplinary advisory on Asset Backed Securitisation for multiple non-commercial banks and joint-stock commercial banks during the past few years.

  • Advisory on new accounting standard and IFRS conversion

Since 1993, Deloitte has been the exclusive foreign advisor on Accounting Law as well as the enactment and amendment of China’s accounting standards and systems, greatly contributing to the development of China’s accounting standards. Deloitte also has recognized IAS specialists who took part in the constitution of IAS 39 “Financial Instruments: Recognition and Measurement”. Deloitte delivers not only advisory service on new accounting standard conversion for various kinds of financial institutions including large state-owned commercial banks, joint-stock commercial banks and foreign legal-person banks, but also advisory service on IFRS conversion for multiple commercial banks including city commercial banks and foreign legal-person banks. Therefore, Deloitte has accumulated rich experience and developed a unique methodology for standard conversion.

Contact us

  • Jennifer Qin
    Audit Partner, China Banking and Securities Audit Leader, Beijing
  • Eric Tong
    Audit Partner, China Banking and Securities Audit Leader, Hong Kong SAR
  • Benny Cheung
    Audit Partner, China Banking and Securities Audit Leader, Shanghai
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