Research On Biological Assets Audit Of T Company

Agriculture is the foundation of people’s livelihood,and agricultural listed companies are the leaders in the agricultural real economy.According to statistics from the China Securities Regulatory Commission,there are more than 90 agricultural listed companies in my country’s A-share market.Due to the unique vitality and natural value-added of biological assets,the accounting confirmation and measurement of biological assets have become difficult,and agricultural listed companies have become a high incidence of financial fraud.How to plan the overall audit strategy and specific audit plan for the characteristics of biological assets in a targeted manner,conduct risk assessment and risk response audit procedures to reduce the risk of biological asset audits,improve the audit quality of agricultural listed companies,and become the audit theory and practice Key issues that need to be resolved urgently in the world.This article is based on the modern risk-oriented audit model,combined with the characteristics of biological assets and the relevant theories of biological asset audit,based on the CPA audit perspective,using literature research methods and case analysis methods,focusing on reducing the audit risk of T company’s biological assets and improving audit quality.the study.The key issue of biological asset audit is risk assessment and risk response.In the risk assessment,the transmission mechanism of strategic risk and operational risk on the misstatement of financial statements was analyzed,and the risk of major misstatement was clarified.In the risk response,internal control tests and substantive procedures were designed to reduce the risk of major misstatement.,Through the perfect internal quality supervision and review of the accounting firm,the inspection risk was effectively reduced,and the audit risk was finally reduced.After research and analysis,this article puts forward some suggestions for improving the quality of biological assets audit of agricultural listed companies from the perspective of accounting firms and the perspective of certified public accountants.From the perspective of CPAs,CPAs need to pay attention to risk assessment procedures,analysis procedures,especially quantitative analysis methods,and innovative audit methods.From the perspective of accounting firms,they need to cultivate a complex that understands both auditing business and client business.Type talents,the accounting firm needs to strictly implement internal quality control procedures.This article hopes to provide a reference for the audit of biological assets of other agricultural listed companies,especially the audit of biological assets of aquaculture.