A Case Study Of Related Party Transactions Fraud Audit Based On A Futures Company

With the development of economy, the cases of corporate fraud emerge in an endless stream, and the means of fraud are becoming more and more diverse. Among them, the related party fraud has become one of the commonly used means of corporate fraud because of its difficulty in identifying and imperfect disclosure standards. These frequent related party fraud cases have disrupted the order of the capital market, shaken people's confidence in the capital market, and seriously endangered the reputation of the audit profession. How to improve the ability of independent auditors to disclose the related party transaction fraud, to solve the audit expectation gap caused by the lack of audit capability and to reduce the risk of related party fraud auditing is an urgent problem to be solved.The related party transaction fraud, the domestic and foreign theorists have more research, the main research focuses on the types and means of related party transactions fraud related party transactions supervision and disclosure of the related party transactions and other aspects, but the research on how to implement the effective external audit of the related party transaction fraud is not much. Taking A Futures Company as an example, this paper expounds in detail the risk assessment procedure of certified public accountants and the identification,assessment and response process of related party transactions fraud from the perspective of external audit. And the audit failure based on the fact that the audit process of CPA review and evaluation, the study found that the CPA is not on related party information alert and audit method is not prudent evaluation of audit evidence taken place and the lack of attention to the events after the balance sheet date is the main cause of audit failure. On this basis, this paper puts forward some measures to reduce the audit risk of related party transactions from the angle of external audit.