The Issues And Suggestions Of Subsequent Event Audit

In December 23,2016,the Ministry of Finance issued the new CPA Auditing Standard No.1332nd--post event matters.So far,there are four amendments to the post audit standards.As a result,it has been paid more and more attention to the post term audit in our country.In addition,through the statistical research on the annual reports of 2013-2016 years’ listed companies,it is found that more and more listed companies are reporting their non standard opinions as a result of post audit issues in this paper.Through the study of the2008-2017 years’ administrative penalty decision of the SFC,it is found that more and more accounting firms is taking the serious consequences of audit failure due to post event audit.However,through a lot of theoretical research,we find that in addition to a few journals about post audit matters,there is no previous research on the issue of post audit matters.Therefore,combined with institutional reform and practical problems,we will study three aspects of post event audit from theory,system and practice in this paper,aiming at finding out the problems in current post issue and giving corresponding suggestions.At the theoretical level,this paper expounds the concept of post event audit,and make distinctions between post accounting matters and other matters including post audit matters.In addition,this paper summarizes the responsibilities of CPA at different time periods for post event audit and the impact of post event audit on financial statements,in order to remind CPA to have a correct understanding of their responsibilities at different stages.At the system level,the guidlines are sorted by time in this paper,from the beginning of1996 promulgated the "specific Independent Auditing Standard No.fifteenth-period after the matter" promulgated in December 23,2016,to the "China CPA Auditing Standards No.1332nd" period after the date of each stage of the audit criterion changes the analysis,mainly studies the difference before version 2016 standards and changes,also puts forward the existing problems of the CPA in understanding and practicing principals,in order to draw the attention of certified public accountants.In practice,first of all,this paper analyzes the annual reports of Listed Companies in2013-2016,and finds that more and more enterprises have been issued non standard opinions audit reports due to post audit matters.On the one hand,it reminds the CPA to pay moreattention to the post event audit.On the other hand,it also induces some specific post event events that occur frequently,and draws CPA to pay attention to these aspects in future audit.Secondly,this paper studies the punishment notice of the CSRC in recent ten years,and finds that there are different problems in the two stages of audit,identification and adjustment of CPA,and analyzes specific cases.Finally,we conclude that there are some problems in the post event audit,such as insufficient implementation of CPA,lack of understanding of audited units,and failure to consider the impact of subsequent events on financial statements from the level of reporting and the level of identification.The main contribution of this article lies in the following three aspects:First,this article summes up the situation of frequent occurrence in recent years,and reminds CPA to pay attention to it.Second,this paper summarizes the key points to which CPA should pay attention in the implementation of the audit and the specific ways to deal with them.Third,this article puts forward the complete audit procedure of the term and post,and gives the CPA certain reference.To sum up,the audit of post term matters is becoming more and more important.Therefore,it is necessary to correctly understand the existing problems from various levels.I choose this subject to study,and hope that it can help the certified public accountants to perform the subsequent events audit.