Research On Risk Identification And Response In The Audit Of Financial Leasing Business

With the country's emphasis on the real economy has been increasing,various favorable policies have been issued.Enterprises become active policy participants,with the help of policy,they want to expand the production scale as a means to obtain higher economic benefits.The expansion of scale increases enterprises demand for machines,leading to the increasing demand for capital to purchase machines.However,at present,if these enterprises want to lend money from the bank,they should spend more time on waiting the bank check risk,and the bank have more requirements.These things impede enterprises obtain sufficient funds they need,and hinders the development speed of enterprises.Financial leasing has natural advantages,such as the enterprises can use less time to obtain the machines,installment payment can ease the financial pressure of enterprises,these advantages can effectively solve the above problems,the heavy asset enterprises favored these ways.The financial leasing machines are usually need to pay more money,and the accounting treatment of the business is relatively complicated,involving the recorded value of fixed assets,accumulated depreciation,unrecognized financing costs,long-term payables,deferred income tax,etc.,which are highly correlated with each other,making it more difficult for auditors.Therefore,the auditor usually identifies the financial leasing business as the focus area of the audit.At present,the development pace of financial leasing industry is accelerating,and more and more enterprises use this way to obtain machines.The latest edition audit standard cannot provide sufficient,detailed and comprehensive theoretical guidance for financial leasing audit.In the market,use financial leasing enterprise mostly are small and medium-sized,and most of these internal control is not thorough,which gives the auditors more challenged.Based on X accounting firm audit A power generation company,the level of material misstatement risk and financial statements of the concrete determination of report project involved misstatement risk,analysis respectively in the financing lease business audit,certified public accountants should be focused on the potential risks,and the potential risk to put forward the corresponding suggestions.