China: Implemented interim measures for data security management of accounting firms including data localisation measures

On 1 October 2024, the Interim Measures for Data Security Management of Accounting Firms enter into force. 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.