Not all companies' financial and accounting reports need to be audited annually. According to the provisions of the State Administration for Industry and Commerce, in addition to the one-person limited liability companies, listed joint-stock companies and companies engaged in finance, securities and futures that should be audited annually according to laws and regulations, foreign-invested enterprises and companies engaged in insurance, venture capital, capital verification, evaluation, guarantee, real estate brokerage, entry-exit intermediary, overseas labor intermediary and enterprise registration agency should submit audit reports. Companies whose registered capital is paid in installments but not paid in full, as well as companies that have committed illegal acts of falsely reporting their registered capital, making false capital contributions or withdrawing their capital contributions within three years, shall also submit audit reports, and other enterprises may not require them to submit them.

The audit report should include the following elements: (1) title; (2) the addressee; (3) Introduction paragraph; (4) the management's responsibility for the financial statements; (5) the responsibility section of certified public accountants; (6) Audit opinion section; (7) Signature and seal of the certified public accountant; (8) The name, address and seal of the accounting firm; (9) Date of report.