The Research Of Financial Statement Audit Integrate With Internal Control Audit Of Listed Company

In China, it has been three years since the <Internal Control Audit Guidelines>published in April2010turned the audit of internal control into a statutory assuranceengagements.The situation of the audit of financial statements and the audit ofinternal control becoming two parallel work not only increased the burden on CPAs,but also brought a heavy cost burden to the audited entity. In this context, drawing onthe successful experience of the United States and other developedcountries,integrating the audit of financial statements and internal control audits toachieve the dual goals(called integrated audit for short) has been widespread concernin theory and practice. So, whether it is practicable to carry out the integrated audit,and how to conduct an integrated audit became a serious problem.This paper adopts the method,combines normative research and empiricalresearch, that launches a more comprehensive study of integrated audit.In thetheoretical research, firstly, the paper analyzes the concepts of the financial statementsauditing and internal control audit, and defines theoretical basis of integratedaudit,concludes out that implementation of an integrated audit is imperative andfeasible.Secondly,through analyzing the subject and object of integrated audit, auditobjectives and plans,audit process, audit evidence and working papers, audit opinionsand reports of various aspects of integrated audit,author try to build theoreticalframework of integrated audit.Finally, on the basis of them, the paper constitutes theaudit tests process integrated audit and works out the specific steps.In analysis of the case, based on the BoRui technology companies, the paper dida exercise of the integrated audit’s process and framework.And the paper focuses onthe application in the case of therisk assessment procedures and control test.Bysimulating the process of the whole integrated audit, the paper verifies the feasibilityof the integrated audit in practical operation which indicates a work route for CertifiedPublic Accountant.At the end of the case study, based on the unqualified audit report and the negative comments of internal control audit’s report, the paper put forwardsthe Report Templates of integrated audit. It’s not only integrates the audit in process,but also in audit achievement.