Research On The Causes And Prevention Of Major Misstatement Risks In Financial Statements Of The Film And Television Industr

With the rapid development of cultural industry and the promotion of national policies,more and more companies have emerged in the capital market.However,incomplete laws and regulations,incompatible development status and defective enterprise internal control,leading to the chaos in the film and television industry is gradually highlighted,and the listed film and television companies are frequently punished.For the current industry chaos in the film and television industry,not only impede benign development of the film and television industry,but also bring negative impact on the audience,striking the bottom line of fairness and justice of the whole society.Auditors,as "economic police",are particularly important in controlling the quality of accounting information of listed companies.Auditing the listed companies in the film and television industry,the focus and requirements of audit work are different from those in traditional industries.As the basis and core of modern risk oriented auditing,identification,assessment and response to material misstatement risk is crucial.How to identify and prevent material misstatement risk of the film and television listed companies,and then rationally allocate audit resources,improve audit efficiency and audit quality,which is the practical problem that the accounting firms and auditors urgently need to solve.At present,most of the academic research on the material misstatement risk is based on the modern risk-oriented audit model.Most of existing studies are universal and the research of material misstatement risk in film and television industry is relatively rare.Therefore,to strengthen the attention paid to the material misstatement risk in the film and television industry,this paper,focus on the film and television industry,adopts the multi-case study to analyze material misstatement risk.This paper selects four typical cases in the film and television industry to analyse the material misstatement risk and its cause,and then compares the four cases to summarizes the common reasons in the film and television industry.Through the comparison and analysis of the four cases,the conclusion is that the financing environment and regulation policies,mismatched development strategies,internal control deficiencies,and the impact of negative public opinion events will lead the listed companies to face greater performance pressure even sand into financial difficulties,which will lead to the occurrence of material misstatement risks.Lastly,the paper pertinently put forward countermeasures to material misstatement risks,including that the accounting firm should grasp the characteristics of film and television industry,enhance the audit industry expertise,value the experience accumulation and sharing;the listed companies should improve the internal control system,give full play to the regulatory functions of all parties,strengthen the management of cast and crew code of conduct,and pay attention to corporate culture construction and talent training;External supervision should improve the construction of laws and regulations,strengthen policy supervision and tax inspection,and attach importance to negative report,utilize the role of social supervision and media supervision...