Analysis Of The Audit Opinion Purchase Case Of Private Placement By GCL CO.,LTD.

With the development of economics,more and more investors poured into the capital market,private placement become the mainstream of the widespread adoption by listed companies the mainstream due to the private placement without strict review compared with other financing way,and no requirement of high level of past performance.While CSRC requires listed companies who attempted to carry out private placement to keep unqualified audit reports.In order to achieve the requirement,to attract strategic investors,to alleviate the financial pressure and to scale expansion,the company purchase audit opinion for wanting more "clean" audit opinion by conspiring with the auditor.In order to achieve the goal of placing private placement,meet requirement of type of audit opinion becomes necessary.From the perspective of individual cases,this paper' innovation point is that it studies the behavioral path of purchase of audit opinions,crystallize the signal signs of purchase of audit opinions,and under the specific background of private placement,how to further standardize the practical operation of private placement,improve the supervision of auditors,and enrich the study of purchase of audit opinions in private placement.On the basis of existing literature research,taking principal-agent theory,incomplete contract theory,information asymmetry theory and rent-seeking theory as the theoretical basis,the methods used are literature research,case analysis and comparative analysis.This paper selects GCL as the case to study the purchase of audit opinions in private placement.The study finds that GCL achieves the purpose of purchasing audit opinions and achieves the expected private placement by frequently changing accounting firms,certified public accountants and paying high audit fees.Further study found that the imperfect corporate governance mechanism,fierce audit market competition,and lack of external supervision provide opportunities and possibilities for the smooth implementation of GCL audit opinion purchasing.The result of GCL audit opinion purchasing on private placement is that it disturbs the normal operation order of the securities market,damages the interests of investors,and causes the mismatch of scarce resources.Based on audit opinion purchase case analysis,this paper argues that should improve the conditions of existing private placement in weakening audit opinion purchase motives of listed companies,and from the outside to follow the management of state-owned assets supervision and administration committee audit pattern,reformthe audit commission and charging mode,improve the system of corporate governance,strengthen the supervision and audit main body behavior.The use of AI technology to improve audit technology,to achieve the industry to achieve the goal of credible threat,improve the overall investment environment.