Research On IPO Audit Risk Identification And Solutions Of The Science And Technology Innovation Board

The Science and Technology Innovation Board was officially launched on the Shanghai Stock Exchange in 2019.About four years of development,the Science and Technology Innovation Board attracts a large number of scientific and technological innovation enterprises and strategic emerging industries to join in,forming a multi-level capital market pattern and driving forward the social and economic order in China.For the establishment of this market,the supervision and intermediary agencies also came into being.As the gatekeeper of the capital market,accounting firms assume an important role in the audit business of the IPO of the Science and Technology Innovation Board,but also face great challenges.Most of the enterprises on the science and technology innovation board are in the initial stage,with significant features such as large investment in R&D,weak finance and unsound internal control,which lead to high audit risks for auditors.Therefore,it is of great significance to study the identification and response of IPO audit risks of the board.Based on the audit risk model,fraud triangle theory,information asymmetry theory and modern risk-oriented audit theory,this paper uses the literature research method to comb through the domestic and international literature on audit risk,IPO audit risk,and the registration system of the science and technology innovation board,and also elaborates on the characteristics,conditions and procedures of the current board,and combines the audit model to make a specific analysis of the current IPO audit risk on the science and technology innovation board.The current situation of IPO audit risk on the board was analyzed in conjunction with the audit model.Using the case study method,taking company A as a case,analyzed the major misstatement risk and inspection risk of the financial statement level and identification level of Company A.On the basis of this,corresponding measures were put forward to deal with the IPO audit risk of the science and technology innovation board.Through above analysis,it is proposed that the auditors need to have a full understanding of the internal and external environment of the audited units,consider their continuous operation ability;strengthen the audit strength of the major projects;improve the professional competence of the auditors and cultivate compound talents from three perspectives;strengthen the internal quality control review procedures of accounting firms;and improve the audit efficiency and quality through the use of computerized audit technology.