| With the continuous development of mobile Internet technology,the traditional retail industry has undergone great changes.It has a brand new business model,namely the so-called "new retail" model,which is supported by network big data information and guided by customer demand,and realizes the trinity of logistics,business flow and information flow.It can be said that it completely subverts the business form of traditional retail.Due to the digital and omni-channel characteristics of new retail,it has a new impact on the audit environment,audit methods and audit content,which brings new challenges for auditors to audit the new retail industry.This paper defines the concept and characteristics of "new retail" by summarizing the research on new retail model at home and abroad,and expounds the audit risk generated by new retail business model.According to the audit risk characteristics of new retail model,the paper introduces the theory of data audit model and modern risk-oriented audit theory as the theoretical basis of this study.Then,the influence of "new retail" mode on audit risk is analyzed,and the characteristics of audit risk of new retail industry are expounded from three aspects.Then,this paper takes Muddy Water’s short Luckin Coffee as the starting point and uses case analysis to explore the process of Muddy Water’s short selling of Luckin Coffee by studying a series of ideas and methods from the hypothesis of financial fraud to the verification of its hypothesis through all-round analysis and collection of large amounts of data.Compare the audit methods of the audit institutions in Luckin’s financial fraud incident,and then find the similarities and differences between the two,as well as the methods that modern risk-oriented audit can learn from.Through research,it is found that short selling companies conduct an all-round analysis of new retail enterprises from three aspects: strategic risk,operational risk and financial risk.At the same time,they spend a lot of time and manpower and material resources to collect store sales data.Finally,through the analysis of the data,they come to the conclusion that Ruixing Coffee has financial fraud.Compared with the ideas and methods of modern risk oriented audit,the two are consistent in overall analysis ideas,and the methods used are similar.However,due to different purposes and positions,different costs and benefits,different depth of risk assessment,and different methods available,short selling companies have found many significant audit risks that audit institutions have not found.In the face of this difference,this paper focuses on the analysis of the shortcomings and causes of modern risk oriented audit,and summarizes the inspiration of short selling ideas and methods for auditors,in order to enrich the theory and practice of modern risk oriented audit,so that audit institutions can better implement the audit of listed companies and planned IPO,effectively do a good job in the capital market gatekeeper,protect the interests of investors,and achieve effective allocation of resources. |
