The Research On The T Accounting Firm's Integrated Audit Of F Company

Large financial fraud like Enron scandal has led worldwide regulators to focus not only on the accuracy and reliability of financial statements but also on the effectiveness of the company's internal control.Internal control audit has become statutory all over the world.China published “Enterprise Internal Audit Instruction”and“Suggestions of Enterprise Internal Audit Instruction Implementation”in recent years,which means the concept of integrated audit becomes more significant.However,standards related to integrated audit have not been published.There is no practice guides for auditors during the audit work and most auditors only complete simple addition of financial audit and internal control audit.As a result,it is necessary to illustrate integrated audit system and its procedures in accordance with case study.Based on above research background,this dissertation adopts literature research method,comparative analysis method and case analysis method.Theoretically supported by synergy effect theory,audit demand theory and transaction cost theory,this dissertation analyses in depth the integrated audit of F Company's financial statements and internal control implemented by T accounting firm.In other words,this dissertation analyses the plan stage,implementation stage and completion stage of F Company's integrated audit,and then points out existed problems on each stage.For example,it is difficult to quantify the sampling of control test,auditors did not pay attention to the end time point of control test,supervision of stocktaking becomes formalistic and so on.Concerning these problems,this dissertation gives several optimized suggestions to each stage in the integrated audit.Suggestions are like below: to clarify the audit ideas in the planning stage,to arrange the audit time reasonably during the implementing stage,to utilize the company's internal audit work and to improve the quality of samples during the implementing stage,and to reinforce the internal quality control of accounting firms and so on.By using case study method,this dissertation points out the existed shortcomes of auditing procedures of T accounting firms,and then gives several advices to improve the quality of T accounting firms' integrated audit.Also,this study can provide reference to other accounting firms engaged in integrated audit.