Production cycle audit

Author: Dong Xiujin
Publisher:
Publish Date: 2003-07-01
Features: This book is part of the "CPN Production Cycle Audit" series in the "Registered Accountant Business Operations and Risk Control" series. In recent years, numerous cases of accounting fraud by listed companies have been disclosed, from earlier cases like "Qingminyuan" to more recent ones like "Zhongtianqin." These incidents have had a very negative impact on the development of the securities market, severely undermining the integrity of the market economy, and the relevant registered accountants have continuously faced criticism from all sectors of society. On one hand, we should recognize that establishing and improving internal control systems within enterprises and issuing true and fair financial reports in accordance with relevant accounting standards is the accounting responsibility of the management authorities. Due to the post-event targeted sampling approach adopted by auditors, combined with the inherent limitations of the client's internal control systems and other objective constraints, it is inevitable that certain important aspects of financial statements may be misrepresented, and the auditors may fail to detect such issues during the audit.