Research On Disclosure Of Key Audit Matters In The Audit Report Of Zhonglian Zoomlion

After the outbreak of the financial crisis in 2008,external users put forward higher requirements for the quality of audit report information,which promoted the reform of a udit standards at home and abroad.In 2015,IAASB issued a new audit reporting standar d.The most prominent change in the standards is that auditors are required to disclose k ey audit matters in audit reports according to professional judgment.The key audit items are the most important ones that auditors consider to be the current audit work after co mmunicating with the management of enterprises.This change aims to enrich the content of audit reports,enhance the information content of audit reports,and enhance the credi bility of financial information,which has a significant impact on audit work.In Decemb er 2016,in order to maintain the convergence with the international standards,the Audit Standards Committee revised and issued the new audit report standards,which require lis ted companies to implement the new audit report model from January 1,2017.Based on Risk-oriented Audit theory,audit importance theory and information asymm etry theory,this paper uses case study method to conduct in-depth study on the audit pr actice of Zhonglian Heavy Section in disclosing key audit items in audit reports from 2016 to 2018,and evaluates the selection of key audit items and the changes of disclosure practices since the implementation of the new standards.Event study method is adopted.Analyse the market reaction after the disclosure of key audit items.The research shows that the disclosure of key audit items effectively enriches the information content of aud it reports,reduces the degree of information asymmetry,enables decision makers to obtai n more valuable financial information,and enhances the reputation of audited companies.However,there are still some problems,such as the template of disclosure form,standar dization of language,simple repetition in different years,etc.This paper analyses the cau ses of these problems.The reason is that the improvement measures are put forward in view of various aspects,which can provide reference for better implementation of the ne w auditing standards.