Research On The Audit Supervision Of Shenzhen Tangtang Accounting Firm Under The New "Securities Law"

The Securities Law of the People’s Republic of China(hereinafter referred to as the New Securities Law)came into force on March 1,2020 after four years of revision.The new Securities Law changes the securities qualification examination and approval system to the filing system for the first time,and guides small and medium-sized accounting firms to enter the capital market in an orderly manner by lowering the threshold for accounting firms to engage in the audit business of listed companies.Under the record system,accounting firms can engage in securities service business only by submitting relevant materials to CSRC and other competent authorities for record.The implementation of the filing system provides opportunities for small and medium-sized accounting firms to undertake the audit business in the capital market,which is not only an opportunity,but also a challenge for small and mediumsized accounting firms.As the first non-securities qualified accounting firm to undertake the annual report audit of listed companies after the implementation of the New Securities Law,Shenzhen Tangtang Accounting Firm has attracted wide attention after being investigated by the CSRC.This thesis first sorts out relevant domestic and foreign literature,explains the definition,characteristics and types of audit supervision,and combines the policy background of the new Securities Law,enumerates the relevant systems of accounting firms,and explains in detail the transformation from qualification examination and approval system to filing system,and makes statistics on the situation of small and medium-sized accounting firms newly filed.Then according to the supervision status of the Ministry of Finance,China Securities Regulatory Commission,China Stock Exchange and China Note Association,the thesis explains their supervision responsibilities,so as to lead to the influence of the new Securities Law on audit supervision.On this basis,this thesis takes Tangtang Accounting Firm as the research object,briefly explains the personnel and income of Tangtang Accounting Firm,and introduces in detail the whole process of *ST Xinyi from hiring Tangtang Accounting Firm when facing difficulties,to the punishment of "no penalty six" and "market ban" imposed on Tangtang by China Securities Regulatory Commission.And found the problems in the audit process of the public accounting firm and the deficiencies of the existing regulatory measures of the regulatory authorities.Finally,combined with the existing regulatory measures,this thesis puts forward the following four suggestions for the regulatory authorities:(1)improve the organizational structure of the regulatory authorities and clearly define the regulatory boundaries;(2)Refine the relevant rules of audit supervision and establish a supervision and restraint mechanism;(3)Increase the illegal cost of supervised objects and strengthen systematic supervision;(4)Guide small and mediumsized firms to enter the market in an orderly manner and purify the audit market environment.Through the study of specific cases,this thesis draws a series of conclusions that the promulation of the new Securities Law has stimulated the vitality of the audit market,strengthened the function of certified public accountants,and increased the strength of regulatory enforcement,and puts forward research suggestions from the three levels of certified public accountants,accounting firms and regulatory authorities.This thesis enriches the research literature on the audit services provided by medium-sized and small accounting firms for listed companies under the record system,and has theoretical significance for promoting the development of supervision theory on the audit services of small and medium-sized accounting firms for listed companies under the record system.