A Case Study On The Integrated Audit Of Grinm Advanced Materials Co.,Ltd. By Shu Lun Pan CPA Co.,Ltd

After the enron and Worldcom incidents,in order to curb the growing financial fraud,the U.S.Congress passed the sarbanes-Oxley Act,which resulted in the emergence of integrated audit.The integration of audit improves the efficiency of double audit and reduces the cost of double audit.In China’s listed companies also frequently appear internal control failure and financial fraud events,the Ministry of Finance and other five ministries and commissions fully realize the importance of internal control audit.Since 2008,China has issued the Basic Norms for Internal Control of Enterprises and Guidelines for Internal Control Audit of Enterprises,marking that the internal control audit of listed companies has begun to become mandatory.Since 2011,more and more accounting firms have begun to carry out integrated audit.However,there is no specific implementation plan and operation method for the integration of audit,which brings difficulties to the practical application and is not conducive to the development of practical work.Therefore,from the perspective of accounting firms,it is of practical guiding significance to explore and improve the integrated audit process from the perspective of audit cost,efficiency and effect.Based on the literature research and the research on the synergetic benefit theory,the lean management theory and the business optimization theory,this paper introduces the integrated audit process and the risk assessment process which are generally accepted by scholars,and provides the standard for the case study in the following paper.This paper describes the overall situation of Shu Lun Pan CPA Co.,Ltd’s integrated audit of Grinm Advanced Materials Co.,Ltd.,introduces the specific process and content of Shu Lun Pan CPA Co.,Ltd’s integrated audit in accordance with the four stages of the implementation of integrated audit,and compares the integrated audit process and risk assessment process described in the previous article.The author finds that the problems in the integrated audit case of Shu Lun Pan CPA Co.,Ltd are mainly reflected In terms of resource allocation,risk assessment,implementation of audit procedures and mutual verification of two audit results,the author puts forward feasible improvement suggestions based on the situation of Shu Lun Pan CPA Co.,Ltd’s,including reasonable allocation and integration of audit resources,optimization of auditor allocation,strengthening auditor training,updating risk assessment and rolling development of audit plan according to audit results at different stages Plan and regularly report the audit results at the stage,strengthen internal communication of the project team,select and correctly implement the audit procedures according to the standards,integrate the use of integrated evidence,pay attention to mutual verification of the two audit results,and timely summarize and evaluate the internal control defects.It is hoped that this study can help Shu Lun Pan CPA Co.,Ltd better carry out the integration of the two audits,improve the efficiency and effect of the integration audit,reduce the audit cost,and provide some micro reference for other accounting firms.