China has reformed its enforcement mechanisms of accounting practices, in particular,corporate governance, in order to facilitate the harmonisation of Chinese accounting practiceswith IFRS practices. However, this research reveals that the reformed corporate governancehas not made a significant contribution towards this harmonisation. The move of Chineseaccounting practices towards IFRS practices is mainly due to the CSRC’s 2001 compulsoryharmonisation policy of eliminating the earnings gap. Corporate governance as an importantenforcement mechanism for accounting standards has yet to be effective.