Study On Audit Risk Of Sci-Tech Innovation Board Enterprises

The Sci-Tech Innovation Board was successfully launched on the Shanghai Stock Exchange in June 2019,opening the way for deepening the reform of China’s capital market.The science and technology board focus on supporting high-tech and emerging strategy companies,paying attention to the growth of corporate value,relaxing the requirements for profit and cumulative profit indicators,in its pilot registration system,with information disclosure as the core,and adopting open and transparent inquiry-type review Go public.Since the launch of the board,many companies have enthusiastically applied.As of the end of March 2020,the number of companies applying for and planning to apply has reached 349.However,the science and technology board market were the first to adopt a registration-based listing model.While being more inclusive,it also exposed the disadvantages of a low listing threshold and a late mature regulatory environment.Coupled with the fact that science and technology innovation enterprises have the characteristics of emphasizing scientific research instead of governance,and the changing external environment of the industry,the company’s own system construction is not perfect,and the operating risks are extremely high.In addition,the market has frequently exposed major fraud and illegal cases such as financial fraud in recent years,which has caused the public to seriously question the practice quality of relevant accounting firms and even the entire certified public accountant industry.Therefore,it is even more important to face audit risks and prevent them.At the current stage,due to the new establishment of the Sci-Tech Innovation Board,most of the research also focuses on the quality of corporate information disclosure and investor preferences,while less research has focused on its audit risk analysis and prevention.Based on this,the research question in this article is: Facing the multi-faceted characteristics of the science and technology board,when auditing the enterprises of the science and technology board,what are the audit risks of the CPA? How to prevent these audit risks?The research ideas of this paper are as follows.First,sort out the relevant literature on the quality of audit,audit risk,high-tech industry risk,and the science and technology board research by many scholars at home and abroad;secondly,analyze the science and technology board market itself to find out the characteristics of its audit risk.As a guide;then select Cnano Technology as the case study object and use the audit risk model as a carrier to analyze its audit risk points from the financial statement level,the level of recognition of major misstatement risks,and the inspection risk from multiple perspectives;finally,according to the case enterprise As well as the research and summary of the science and technology board market,it proposes corresponding preventive measures for its possible audit risks.The study found that the risks of major misstatement of financial statement levels when auditing companies in the science and technology board market are relatively obvious.The company’s policy risks,market risks,and sustainable management capabilities require special attention.In addition,at the level of identification,one is that the amount of accounts receivable is large and the recovery is difficult;the other is that there is a large room for accounting manipulation on research and development expenditure.In terms of inspection risks,auditors are faced with various problems such as lack of scientific and technological knowledge and the limitation of audit cost-effectiveness principles.Based on the above risks,this article gives corresponding suggestions for prevention.The innovation and application significance of this article lies in that it is keenly aware that the science and technology board has a large audit risk due to national policies,corporate industries,market supervision,etc.,and has been located in Tianna Technology,a new material industry company through data search.Based on the particularity of the companies under the Sci-Tech Innovation Board,selected case companies are the first to conduct research and put forward targeted recommendations to provide references for subsequent research on the risk of science and technology board audits in order to prevent problems such as audit failures and guide the science and technology board market to be stable development of.