Research On Integration For Financial Statement Audit And Internal Control Audit

Since The Guidelines For Internal Audit Of Enterprises promulgated in our country,internal control audit business has a rapid growth as the huge market demand.But the guidelines just provide a general idea and frame,no such specific regulations for operation.So there are various audit method for internal control audit in current audit business.Thus,this paper refer to the successful experience of western internal control audit,from view of integration for internal control audit and financial statement audit,to discuss the theory analysis and detail procedure of the integration audit operation.Firstly,the paper reviews the generation and development of internal control audit.Experienced lots of attempt,internal control audit had progress from single operation to integrated with financial statement audit.Then,the paper describe the theory basis for integration audit,and indicate the feasibility and necessity for integration audit after the analysis for same point and difference of internal control audit and financial statement audit.Next,the paper make statement for detailed procedure around several integration point,such as risk assessment,control testing etc..To be mentioned,when the accounting firm process the integration audit,they can make assessment first for the internal audit process of customer,and then determine if the result can be a reference.At last,the paper choose an example for integration audit,to describe the execute in actual business through the example of Faurecia(Changchun)Automotive System Co.Ltd.