Application Research Of Modern Risk-oriented Auditing In K Company Audit Planning Stage

With the rapid changes in the global economy,the market competition is becoming increasingly fierce,the pressure on business operations is huge,the risk of fraud in financial statements is increasing day by day,and the difficulty of auditing is increasing.Under this circumstance,it is difficult for auditors to use traditional audit models to find problems such as business risks and management fraud.The modern risk-oriented audit model focuses on the risk assessment process and attaches importance to the risk assessment process.It identifies,assesses,and responds to major misstatement risks as the main line of auditing.It can identify audit key areas,achieve optimal resource allocation,effectively reduce audit risks,and improve audit efficiency.Modern risk-oriented auditing requires auditors to attach great importance to the work of the audit planning stage.After undertaking the business,it is necessary to systematically determine the scope of the audit,arrange the audit time,assess the risks of the audited entity,arrange the auditors reasonably,and determine the risk response measures based on the risk points..However,due to the late start of modern risk-oriented auditing in China and the fierce competition in the accounting firm industry,many auditors did not pay sufficient attention to the audit planning stage during the practice,which led to the inability to fully and accurately recognize the audit of the audited entity.The risk violates the core idea of modern risk-oriented auditing.This paper uses literature analysis,case study and analytic hierarchy process to sort out the research status of related fields at home and abroad,and introduces relevant theories such as modern risk-oriented auditing,audit planning stage and analytic hierarchy process,which lays a theoretical foundation for the research of this paper.Provide research ideas.This paper combines the specific case of Y accounting firm’s audit of K company,and discusses the application of modern risk-oriented auditing in the audit planning stage,and finds its shortcomings.In response to these shortcomings,the application of modern risk-oriented auditing in the stage of K company’s audit planning was optimized,and the analytic hierarchy process was used to evaluate K’s major misstatement risk.Finally,it puts forward suggestions for the work of Y accounting firm in the audit planning stage,and expects to provide guarantee for the smooth and efficient development of the accounting firm’s work in the audit planning stage.