Research On Special Audit Of P2P Online Lending Platforms

In recent years,China's Internet has developed rapidly,new Internet finance models have emerged,such as third-party payment,crowdfunding,P2P online lending,digital currency,big data finance,etc.,which are the products of "Internet+finance" in China.Among them,P2P online lending has become a typical representative of Internet finance.However,the entry threshold of current P2P online lending platforms is low,and the establishment conditions are very simple.So Banks,the traditional financial investment companies,guarantee companies,Internet companies and other companies from all walks of life start to approach this big cake of emerging market.That leads to the explosive growth of the P2P online lending platforms.However,due to the relative lag of supervision,various problems such as collapse,runaway,ponzi scheme,self-financing and capital chain rupture have been reported on P2P online lending platforms.The high number of problematic platforms has seriously damaged the interests of investors and hindered the healthy development of P2P online lending industry.In August 2016,China launched the network lending information intermediary organization business management interim measures,which specifies the P2P online lending platforms need to conduct the key link of special audit.After that,there is a stable and improved situation in the P2P online lending industry.However the special audit of P2P online lending platforms is still in the initial stage.And according to the rules,only a few platforms have introduced special audit.In this paper,in order to further improve the special audit of P2P online lending platforms,using the literature research,case analysis and inductive contrast method to analyze the existing problems in special audit and the reasons behind the problems.This paper analyzes the special audit situation of 14 P2P online lending platforms released by China Internet finance association,which disclosed the special audit reports in the first half of 2018.In this way,we can peer into the implementation of the special audit of P2P online lending platforms.After that,several representative platforms are selected for detailed comparative analysis of their special audit.Through research and analysis,in view of the problems and reasons of the P2P online platform special audit,this paper puts forward two innovative suggestions to improve the special audit of P2P online lending platforms.The first is to optimize the design of the special audit system of P2P online lending platforms,including establishing the audit cost-sharing system,establishing the whole process compulsory special audit system and perfecting the special audit disclosure system.Second,this paper puts forward detailed suggestions on the special audit contents of P2P online lending platforms,and discusses the special audit contents of P2P online lending platforms in four key areas,including fund deposit,information disclosure,information technology infrastructure security and business compliance.The research of this paper can provide reference for relevant government departments and accounting firms to audit P2P online lending platforms,which is conducive to improve the special audit of P2P online lending platforms and maintain the healthy development of P2P online lending industry.