Risk Study On Z Accounting Firm's IPO Audit

In recent years,due to the continuous development and improvement of China's capital market,its role has become increasingly prominent.The IPO listing financing has become the outlet choice for most enterprises.CPAs need to audit the three years before the IPO enterprise company is listed and the first year of the listing.The financial situation,the time span is large,and the requirements are higher.To meet the auditing objective,the CPA needs to perform more and more complicated audit work to deal with the problems in the IPO audit,and finally issue an appropriate audit report.This means not only increasing the difficulty of the CPA audit work,but also the reliability of the audit results.Since 2013,regulator have continually punished intermediaries such as accounting firms,with the aim of making the CPA profession more standardized and strengthening the accountability of CPAs in IPO projects.Improving the quality of audit report and reducing the risk of IPO audits have become an urgent issue that needs to be resolved urgently in the auditing theory and practice circle.This thesis mainly adopts two research methods: case analysis.Firstly,it introduces the research background and research significance.Secondly,it combs the relevant research results of audit risk and IPO audit risk at home and abroad.Based on this,D enterprise is selected.The case was analyzed,and finally the recommendations of the CPA to reduce the risk of IPO audit and the conclusions of the study were given.Based on the related theories of audit responsibility and game theory,this paper analyzes the causes of audit risk from three aspects: external environment,audit object,CPA itself and accounting firm.Analyze the risks in IPO audit project from the perspective of CPAs and accounting firm.Three main conclusions are drawn from the analysis of specific case:(1)IPO audit risk is high,CPA must maintain professional suspicion and implement targeted audit procedures to reduce it.(2)The IPO business of the CPA will undertake a comprehensive understanding of the political,economic and other environmental,industry development status and business operations of the audited entity,thereby assessing the risk of material misstatement that may exist in the audited entity and considering itself.Whether it has the corresponding professional competence and the resources needed in the audit work.(3)Accounting firms should strengthen the construction of quality supervision system,ensure the effective implementation of quality review,strengthen personnel training,especially the cultivation of compound talents,and make the final check of the audit report.