On 10 May 2024, the Ministry of Finance and the Cyberspace Administration of China (CAC) adopted the Interim Measures for Data Security Management of Accounting Firms. The interim measures establish data security obligations for accounting firms that provide auditing services for certain categories of companies, such as critical information infrastructure operators, large network platform operators, and domestic enterprises that are to be listed abroad. Furthermore, the interim measures require accounting firms to store data within the country, including audit work documents, related data, and encryption keys, prohibiting their storage or transmission overseas. The interim measures enter into force on 1 October 2024.
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