Research On Z Accounting Firm's Integrated Audit Of H Company

Starting from 2012,all companies listed on China's motherboard must disclose internal control audit reports and internal control self-evaluation reports,which require that the system be gradually implemented to SMEs and GEM companies in China.According to the relevant requirements of the Guidelines for Enterprise Internal Control Matching,CPA can perform two audits separately or integrated audits in the process of auditing.Compared with the independent implementation of financial statements audit and internal control audit,on the one hand,integrated audit can improve audit efficiency,on the other hand,reduce audit risk and reduce audit costs.From the advantages of integrated audit described above,the implementation of integrated audit is the trend of the times.Under the current background,auditors and scholars in our country are constantly learning from the successful experience of integrated auditing in other developed countries,and the theoretical and practical circles attach great importance to their research.Therefore,how to effectively combine financial statements audit with internal control audit to carry out integrated audit with high efficiency and quality has become a major problem to be solved in China.This paper systematically studies and analyses the implementation of integrated audit in accounting firms by using case analysis and literature research methods.In the part of theoretical research,firstly,the concept of integrated audit is defined,and the theoretical basis of integrated audit is discussed and the guidelines and standards of integrated audit are elaborated,which shows that the implementation of integrated audit is feasible in theory and imperative in practice.Secondly,it combs the relevant process of case integration audit of H company with Z accounting firm,mainly from three stages: the integrated audit plan stage,the integrated audit implementation stage and the integrated audit completion stage.In the process of case analysis,it analyses in detail how the accounting firm carries out the integrated audit and the specific operation process,and then from the corresponding three stages.Finally,according to the above problems,this paper puts forward feasible suggestions for the accounting firms to carry out the integrated audit from the planning,implementation,completion and other four perspectives.The purpose of this paper is to provide some reference for the practice of integration in China.Through the analysis of specific cases,this paper draws the following conclusions:Firstly,the implementation of integrated audit is beneficial to accounting firms,which showsthat integrated audit can save audit resources at the same time of low cost and high efficiency.Secondly,the implementation of integrated audit enhances the awareness of internal control audit,enabling auditees to focus on improving their internal control and optimizing their own management concepts.Third,the audit industry should have a detailed internal quality control system,improve the quality of practice,reduce audit risks,and ensure the quality of audit practice.Finally,the relevant departments should formulate more detailed and valuable norms and implementation guidelines on the basis of the Guidelines for Auditing Internal Control of Enterprises.In order to develop the integrated audit effectively in the long run,we need the joint efforts of the above aspects.Accounting firms,auditees and relevant departments must play their own roles and make concerted efforts in order to achieve the dual objectives of internal control audit and financial report audit.