Research On The Role Of Key Audit Matters Of Fair Value Of Financial Instruments In Reducing The "Information Gap" Under Big Data

With the rapid development of Internet,the internal and external environment of enterprises has changed dramatically.The explosive growth of data volume has brought great impact and impact on the capital market.Especially in the field of fair value evaluation of financial instruments,on the one hand,the transactions of financial instruments have the characteristics of large quantity,complexity and diversity,and the risk of major misstatement is large;on the other hand,investors pay more attention to the fair value information,and the demand for information is increasing,so the information required by investors and the information disclosed in the annual financial reports and audit reports of listed companies are certain Information gap.Therefore,in recent years,the financial instruments standards,fair value measurement standards and audit standards have been revised or supplemented,hoping to further expand the information content,improve the information quality and narrow the "information gap".First of all,through the method of literature research and theoretical analysis,this paper puts frorward the research topic,and draws the conclusion that the disclosure of key audit matters of the fair value of financial instruments under big data is helpful to narrow the "infronnation gap".Furthermore,through the statistical analysis of 2016-2018 annual audit reports of listed commercial banks in Shanghai and Shenzhen stock markets,this paper summarizes the existing problems in the disclosure of key audit matters and makes a preliminary analysis.It is found that the implementation effect of key audit matters is not ideal at present,which has limited effect on reducing the"information gap".In the 2016-2018 annual audit report of ICBC,the number of key audit matters is large and the content is relatively comprehensive.Auditors also pay attention to the evaluation of the fair value of financial instruments and the impact of big data,which has some advantages,but there are also problems such as the standardization of the content of key audit matters,and put forward suggestions for improvement.Finally,combined with the advanced management experience of ICBC cloud data center,the fair value measurement and audit process of financial instruments under the big data environment is optimized.Through the research of this paper,we can get the following aspects:first,improve the information content of the audit report,investors can get information increment by reading the key audit matters;second,improve the audit quality,and disclose the fair value of financial instruments as the key audit matters can increase Plus the concerns of the certified public accountant,it is helpful for the certified public accountant to fully communicate with the management of the audited unit on this matter;thirdly,to improve the quality of accounting information,and to disclose the fair value of financial instruments as a key audit matter means that the auditor needs to allocate more audit resources to this field.The evaluation of the fair value of financial instruments involves significant management judgment and audit The improvement of accounting quality helps to make accounting information more authentic and complete,and to improve the quality of accounting information.