Research On Disclosure Of Key Audit Items In Automobile Manufacturing Industry

The report is a written document in which the auditor reviews and evaluates the compliance and correctness of the financial report of the audited entity in accordance with the provisions of the appropriate auditing standards.However,in recent years,the problem of audit failure has become increasingly prominent,and the financial fraud continues to escalate,which brings great challenges to accountants,but also makes the users of statements worry about whether the audit report can provide effective warning.How does a auditor draw the user’s attention to potential risks after issuing a standard unqualified audit opinion? In an effort to improve audit quality,the International Auditing and Accreditation Standards Board has updated a series of audit standards to require auditors to provide more comprehensive and extensive information in audit reports to better reveal key audit matters and enhance investor trust in financial reporting and the practice of accountants.In 2016,the Ministry of Finance in China issued Auditing Standard 1504,which requires auditors to make detailed disclosures of key audit matters in their reports to ensure audit quality.The automobile manufacturing industry has a relatively high concentration,and there is a pattern of monopolistic competition among various subdivided vehicle manufacturing enterprises.Investors and other report users have demanded greater audit quality and information content from the listed audit reports in the automobile manufacturing industry,due to the unbalanced development of enterprises.From the perspective of the users of the statement,the information disclosure of key audit matters in the automobile manufacturing industry is deeply discussed,in order to provide more reliable reference basis for investors.Through sorting out relevant literature and combining four theories such as risk-oriented audit theory,the data samples are located in the audit reports of A-share listed companies in the automotive manufacturing industry from 2017 to 2021.By analyzing the disclosure of key audit matters in the industry and some representative case companies,it is found that during the five years,The disclosure of key audit items in the automobile manufacturing industry is relatively complete,but there are also some problems,such as single type of identification items,insufficient description of reasons,and lack of information increment in the audit response procedures.Finally,in view of the above problems,improvement measures are proposed respectively from the four perspectives of certified public accountants,audited units,relevant standards and regulatory agencies,in order to remind certified public accountants to pay attention to improving their working methods and ideas,narrow the gap between the expectations of report and report users,and provide report users with continuous and reliable incremental information.