Research On Risk - Oriented Inventory Audit

In December 2002, the international auditing and verification standards board first issued in the framework of new methods of audit mode and new auditing standards. The Chinese association of certified public accountants in 2004 made a modern risk-oriented audit systematic expatiation and revised the existing auditing standards and asked for some advice. In early 2014, the ministry of finance, in accordance to the actual needs of domestic enterprises and capital market development in the country, introduced a system on the basis of reference to international financial reporting standards, the fair value measurement, financial statement presentation, employee compensation, long-term equity investment, the consolidated financial statements, the joint venture arrangement, the disclosure of the rights and interests in other subjects (such as seven new accounting standards for business enterprises).At this point, the modern risk-oriented audit has become the inevitable trend of the development of the international audit industry. At present, research suggests that the modern risk-oriented audit mode approach and its current application in the industry, promotes the development of China’s enterprises and improves the level of audit practice in the country and is of great and realistic significance.Under such background, this paper chooses to place the modern risk-oriented audit approach in the inventory at its present stage in China, and study the application of the audit, from the basic ideas, characteristics and risk model, etc., and also through specific industry cases one can fully recognize the modern risk-oriented audit method. The same problems encountered in the practical work of peers can provide a new solution.