What was the difference between the CICPA and CACPA in the People's Republic of China (PRC)?
A)These are two translations of a single Chinese professional association from Mandarin to English.
B)The CICPA was the professional association for accountants and the CACPA is the professional association for auditors.
C)The CICPA was the professional association for CPAs in private practice and the CACPA is the professional association for accountants in public practice in the PRC.
D)None of the statements above is true.

Question

Quizplus · Accepted Answer

The CICPA (Chinese Institute of Certified Public Accountants) is the professional association for certified public accountants (CPAs) in China, while the CACPA (Chinese Institute of Certified Public Accountants) is the professional association for auditors in China. Therefore, option B is the correct answer.

What Was the Difference Between the CICPA and CACPA in the People's