Research On The Procedure And Method Of Fair Value Auditing

The reliability of accounting information is a basic requirement of accounting information. With economic development, the demand for accounting information users of accounting information is gradually transferred to the relevance of accounting information, the emergence of the fair value measurement is very timely. Following this, the fair value auditing procedures and methods of research are also on the agenda, becoming a problem to be solved. In2006new accounting standards, the extensive use of fair value measurement, the fair value of the financial statements of the relevant requirements related to its recognition, measurement, disclosure and other aspects, fair value measurement trends have emerged. The fair value measurement attributes in the accounting practice is widely used in the work, not only brought severe impact, the practice of accounting measurement also challenge to the traditional audit work, greatly increased the difficulty of the fair value of the audit and risk.Since the implementation of the new accounting standards, the introduction of fair value to the auditing profession and a great impact, the fair value of the new challenges facing audit also ready. In the absence of clear theoretical guidance, the auditors face immature audit procedures, internal control is unreasonable, fair value accounting estimates uncertainties and other factors, the need based on personal and professional levels auditor’s professional judgment, then the quality of the audit highly questionable. Therefore, improving the fair value of audit quality and reducing audit risk at fair value, the fair value of maintaining the impartiality of the audit, has become an important topic in the field of auditing unavoidable.At present, the development of market economy is not mature, its corresponding accounting standards and the system are not perfect, the level of business accounting audit practitioners is uneven, and the caused by the fair value measurement attributes using the unreasonable and so on, which have brought certain difficulty for the application of fair value, so, it is necessary to strengthen the fair value of the audit the audit to improve the fair value of audit quality. In practice, however, the use of fair value is very big uncertainty, the fair value of audit is not mature, the auditors also feel strange on fair value auditing. Therefore, by drawing on the fair value of the foreign relatively mature audit findings and audit experience, this paper combined with the practical application of the fair value of our situation, to comb and probe into our country fair value auditing procedures and methods, combined with case studies, found that the fair value of the audit process problems and targeted formulation of recommendations to reduce the fair value of audit risk.