Abstract. This paper analyzed the punishment bulletins released by CSRC against accounting firms and CPAs from 2001 to 2016.We use statistical manners to demonstrate the different types, reasons,penaltyspeed and penalty intensity of those cases. Chinese administrative penalty has its own characteristics and changed with time. Authorities should increase penalty intensity and accelerate penalty speedto strengthen regulatory on the accounting firms and CPAs in the future. Last but not least, the firm mergers caused by penalty also deserves the attention of regulators.