The demand for capital in the Republic of China, whose 9.5 percent growth has spurred its government to rein in that rapid rate for fear that its economy could overheat, is also spinning off steps to spruce up the country's accounting procedures.The country's rising capital market needs mean that accounting methodologies should be tailored to suit the needs of that market, asserted Liu Zhongli, president of the Chinese Institute of Certified Public Accountants, during a recent speech in Brussels.
Zhongli, who was addressing members of the Institute of Chartered Accountants in England & Wales, emphasized his country's theme of protecting the interests of investors and creditors.
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