Research On Audit Risk Of IPO In Manufacturing Industry Based On Gone Fraud Theory

Listing is a kind of financing channel to the public for the enterprise;it means that the enterprise has the investment value for the investor;for the government,it can promote the local economy development,so the enterprise IPO involves many interests.In addition,the IPO system of Chinese enterprises has undergone the transformation,and the role of audit is highlighted.Through the case published by the CSRC,it can be seen that the proportion of manufacturing enterprises punished for IPO fraud in recent years is very large.China as a big manufacturing country,one of the important tasks in the 13 th five-year Plan period is to promote economic restructuring and upgrading in the context of supply-side,and ultimately To achieve the goal of China's manufacturing 2025.Therefore,the research on the audit of the manufacturing IPO is of great significance,because of the large risk of fraud in the process,the key point is the research and prevention of the related audit risk.In view of the prevention of IPO audit risk in manufacturing industry,this paper adopts the modern audit risk model to study,and collects the relevant cases and data of manufacturing enterprises in the last five years of CSRC.The major misstatement risk and the inspection risk are also combined with the theory of GONE fraud.This paper adopts the methods of literature research,statistical analysis and case study,and implements the following research procedures: firstly,the literature research method is used to explain the related concepts of IPO audit risk,at the same time,the four dimensions of GONE fraud theory are defined,and through the comparison of several fraud risk theories,analyzed the applicability of GONE fraud theory in this paper.Secondly,the general situation and reasons of IPO audit risk of manufacturing industry in China are studied by using statistical analysis method.Then,using the case study method and the GONE fraud theory,this paper analyzes the problems and reasons of the major misstatement risk and the inspection risk.Finally,some suggestions are put forward to prevent the risk of IPO audit in manufacturing industry.Through the above-mentioned research,this paper draws a conclusion from the following aspects: first,from the four dimensions of GONE fraud theory to put forward audit recommendations in identifying the major misstatement risk;The other is to put forward relevant suggestions from the angle of audit subject according to the characteristics of IPO in manufacturing industry.This paper provides some references for further improving the ability of audit subject to prevent risks,and also provides some suggestions for practitioners in the same industry.