In recent years, risk events such as financial fraud and audit failure of accountants occur from time to time in the capital market, which bring legal risk and reputation risk to commercial banks. On December 18, the conference and signing ceremony of the bank letter block chain service platform was held in Beijing.
Liu Fushou, chief lawyer of the Banking and Insurance Regulatory Commission, pointed out in his speech that the Ministry of Finance and the Banking and Insurance Regulatory Commission jointly issued the "Circular on further standardizing the work of Bank correspondence and reply" and the "guidance on promoting the Digitalization of correspondence certificates of Accounting firms." it is required to improve and enhance the standardization level of correspondence business and speed up the process of intensification and digitization of correspondence certificates. It is of great significance for the China Banking Association and the China Institute of Certified Public Accountants to actively implement the document requirements, study and promote the digital construction of correspondence, and develop and launch the bank letter block chain service platform.
Liu Fushou put forward three suggestions: first, we should fully realize the importance of the digitization of correspondence, that is, the digitization of correspondence can not only effectively improve the audit quality and efficiency, but also promote banks to optimize risk management and effectively maintain the order of the market economy. Second, to promote the construction of the correspondence platform in a safe and orderly manner, we must adhere to safety and prudence, risk control, pilot first, steady progress, and dynamic adjustment and continuous improvement. Third, strengthen the risk management and data management of commercial banks to improve the quality of correspondence business. First, we should strengthen risk management and improve the internal control of correspondence business. The second is to enhance the awareness of service and fulfill social responsibility. The third is to innovate digital correspondence and improve the level of bank data governance. Fourth, it is necessary to give full play to the self-discipline service and management responsibilities of trade associations. He hopes that in the future, the bank correspondence block chain service platform can give full play to the function of preventing and defusing risks, promote the improvement of the quality and efficiency of correspondence, and strive to build an exemplary digital platform with high security, strong public welfare, convenience and high efficiency, and make due contributions to improving the construction of the social credit system and strengthening the real economy of financial services.
Pan Guangwei, full-time vice president of the China Banking Association, first introduced the safe and efficient construction of the digital platform of correspondence by the China Banking Association, saying that with the strong support of Industrial and Commercial Bank of China and ICBC Technology, the China Banking Association has formally completed the development of the system. at present, more than 100 banks and dozens of clubs have clearly applied for access to the platform. Recently, the Accounting Department of the Ministry of Finance invited relevant experts to evaluate all aspects of the platform, and the platform successfully passed the evaluation.
Pan Guangwei said that the construction of the bank correspondence block chain service platform adheres to the concepts of authority, fairness and public welfare, and follows the principles of marketization, openness and graduality. we will gradually promote the transformation and development of bank correspondence to intensive, electronic, standardized and refined "four modernizations".
Pan Guangwei also introduced the three core advantages of the bank letter block chain service platform: first, in the target positioning of the platform. The platform has changed the offline decentralized letter reply mode to online centralized processing, which can complete the whole process of bank letter application, authorization, transmission and reply online, speed up the efficiency of letter processing, effectively solve many disadvantages of the traditional paper letter model, reduce the manual intervention of accounting firms, banks, audited units and other related parties, enhance risk control, and reduce the risk of data errors and fraud.
The second is in the security of the platform. The platform only retains the correspondence transmission process information, does not retain the correspondence data information, pays attention to the isolation and secrecy of the information, and ensures the data security of banks and firms. The platform has a financial security protection environment, which can realize the safe operation of the system 24 hours a day.
Third, in the technical support of the platform. The platform chooses ICBC chain as the underlying block chain technology, ICBC chain not only has significant technical advantages, but also has completely independent intellectual property rights, has passed the authoritative certification of trusted block chain of the Ministry of Industry and Information Technology, and has a number of mature application projects. Finally, President Pan elaborated on the next step for the China Banking Association to join hands with the China injection Association to promote the digital construction of correspondence.
Shu Huihao, secretary-general of the Chinese Institute of Certified Public Accountants, said in his speech that the quality of correspondence is related to the quality of accounting audit and information disclosure, the operation and reputation of banks and financial institutions, and the stability of the financial system. The China injection Association and the Bank of China Association have carried out cooperation on the construction of the bank letter block chain service platform, and have cooperated to build the bank letter block chain service platform, and in accordance with the requirements of the Ministry of Finance on the pilot scheme of digital correspondence, first pilot and then gradually popularize. At the same time, the platform will operate and maintain in accordance with the principle of "adhere to security and controllability, adhere to public welfare attributes, adhere to standards and norms, and adhere to openness and compatibility". It will not only serve the needs of firms, but also standardize the correspondence business of financial institutions, and also address the concerns of all parties about the quality of correspondence. It is the use of information technology to solve practical pain points. It will help to improve the audit quality and efficiency, reduce the operational risk and reputation risk of banks, maintain the order of the financial market, and promote the construction of social credit system. He hopes to take today's release of the bank correspondence block chain service platform as a new starting point. The bank correspondence block chain service platform aims at standardization, digitalization, networking and intelligence, and jointly makes greater contributions to the healthy development of the capital market.
Industrial and Commercial Bank of China, Vice President Zhang Wenwu said in his speech that in May 2020, the Banking Association launched the planning and construction of the bank correspondence block chain service platform, which was further innovated and upgraded by ICBC Technology Company on the basis of the original e-letter of ICBC. All-out efforts were made to build the platform and put the platform into production as scheduled. Industrial and Commercial Bank of China will take the signing of the cooperation agreement as an opportunity, as the first batch of banks to actively cooperate with the construction of the platform, promote the interconnection between e-letters and the platform, and fully support the use of the platform through the centralized practice of bank correspondence certificates. At the same time, in accordance with the "four modernizations" requirements of intensification, electronization, standardization and refinement put forward by the China Banking Association, we will fully support the follow-up construction, operation and maintenance, in terms of system upgrading, business training and system construction, to ensure the orderly convergence and healthy development of business.