The Institute of Accounting and Finance is an important research base of Shanghai University of Finance and Economics, and accredited as one of 100 Key Research Institutes of Humanities and Social Sciences at Universities by Ministry of Education (MOE) in September, 2000. Now, the institute has 15 full-time and 7 part-time research faculties, including 12 full professors and 3 associate professors. Based on the important research programs of MOE- and State-level, the Institute places special emphasis on the following areas: accounting information and asset pricing, government regulation and earnings management, auditing market and the independence of CPA, accounting standards setting, financial control system, and corporate governance etc., and published some papers in the international and China’s leading research journals.