Research On Enterprise Audit Risk Identification And Prevention Under The New Internet Retail Business Model

With the massive use of internet technology,as well as the impact of the coronavirus pandemic and government support,the retail business model continues to innovate,forming an Internet new retail business model with the Internet as the platform and big data as the core.Not only the needs of consumers have been fully satisfied,stimulating their desire to consume,but also enriching the market.The Internet new retail business model combines the characteristics of the traditional retail industry,uses the Internet and big data,reshapes the enterprise structure,and innovates the business model.Model innovation not only has an impact on the industrial structure,but also on audit risk.As the Internet new retail business model is developing and constantly improving,it has not yet reached a fully mature period,coupled with the particularity of the Internet and big data,auditors will face new challenges in the process of performing audit business.Based on the rapid development of the Internet new retail business model,this paper analyzes representative case enterprises to determine the various audit risks that may exist under the business model and the countermeasures of the enterprises themselves and accounting firms,and updates the audit focus of the modern risk-oriented audit model under the business model.This paper first introduces the relevant theories and literature from the research background and significance,and uses the literature research method to conduct in-depth analysis to clarify the research theme of this paper,and analyzes the current situation of the retail industry,the characteristics of the Internet new retail business model and the audit risk points in the model from the theoretical perspective.Using the case study method and the comparative research method,through the analysis of Luckin Coffee,the audit risks and countermeasures of enterprises under the Internet new retail business model are studied.Finally,it is concluded that under the Internet new retail business model,the business strategy of "burning money + subsidy",the integrity of the company’s management personnel and the weak controls over the enterprise information system have led to an increased risk of material misstatement at the financial statement level.The company’s marketing model of investing too much money increases the risk of material misstatement at the inventory,revenue and selling expense levels.The peculiarities of electronic data and information systems of enterprises increase the risk of inspection.On this basis,relevant recommendations are made from the perspective of enterprises and accounting firms.The research and analysis of this paper can not only serve as a reference for accounting firms to improve audit quality when performing relevant audit services,but also provide reference perspective for other enterprises that adopt Internet new retail business models,and point out the development path of Internet new retail business models for traditional retail enterprises.