Study On Audit Risk Of Coal Enterprises

Under the new situation of economic development,China’s energy industry is in overproduction.The state has introduced a number of policies for macro-control,advocated the coal industry to actively seek new ideas for development,implemented the policy of "cutting capacity",and realized the transformation and development of coal enterprises towards the direction of scale,intensification and informatization.In such a macro environment,the competitive pressure of coal enterprises is more intense,and the management of enterprises is faced with some performance assessment pressure,which increases the probability of misstatement of financial statements,and the audit team members bear greater audit risks.At present,it is urgent to fully explore the risk factors of coal enterprises,think about how to design audit procedures for risk prevention,reduce to a generally acceptable range,and improve audit quality.This paper takes HX coal enterprise as a specific case,and on the basis of the modern risk-oriented audit theory,discusses the audit risks faced by the firm during the audit of HX coal enterprise.Firstly,this paper summarizes the current situation and causes of audit risks of domestic and foreign scholars,including domestic scholars on audit risks of coal enterprises.Then the connotation of modern risk-oriented audit,the audit process and elaborates the relevant theories of modern risk-oriented audit,then introduces the status quo,HX coal enterprise itself about how from the audit firm business to undertake,risk identification and assessment,and control test,the implementation of substantive procedures and issue the audit report and audit risk control in the process,how to accurately grasp the risk point in each work phase.Audit process in coal enterprises by HX comb,summed up the firm should focus on at the time of the HX enterprise audit,risk factors,including the special reserve provision,related parties and insider trading,stock trading and construction of the project cost accounting,etc.,and then to risk identification and assessment,assessment of that level and the financial statements of material misstatement risk,fully grasp the audit focus,make the risk management audit more efficient and effective to control the audit risk within an acceptable range.Finally summarized in the HX problems existing in the coal enterprise implements the risk-oriented audit,and puts forward corresponding Suggestions for improvement on the existing problems,mainly including prior understanding of the HX coal enterprise management environment characteristics,improve the auditor’s professional ability,perfect the coal enterprise risk assessment procedures,and strengthen the understanding of enterprise internal control,the design of effective inventory tray of inspect and focus on the authenticity and accuracy of operating income.The effective response of auditors to risks is conducive to improving the overall audit quality of accounting firms.