Kingsun IPO Auditfailures On The Enlightenment Of Accounting Firms

With the development of China's capital market,CPA industry has been expanding rapidly,making the industry increasingly fierce competition,which leads to the effectiveness of audit risk control system of some accounting firms lost to blind expansion.In recent years,more and more enterprises listed by IPO,some companies can not meet the listing qualifications,which are inflated assets,fictitious profits,falsifying financial statements and other illegal behavior,and as to accept some CPA audit commissioned by the IPO,because of the lack of scientific and perfect risk control system audit,failed to find these violations IPO,which leads to the failure of audit,not only caused a bad influence to the society,also caused huge losses to investors.In this paper,PC Certified Public Accountants(hereinafter referred to as PC)as the main body,by accepting the KingSun IPO audit project to undertake business,audit execution and audit completed the analysis of the three stages of the PC,that the audit risk control system has some problems.It is the existence of these problems with the system,leading to the PC audit risk control system failed to KingSun IPO projects in the implementation of effective control of audit risk,so as a result of KingSun IPO audit failure.In order to avoid the IPO audit failure happened again,based on the existing PC control system is designed based on a set of more scientific and perfect the audit risk control system,the audit process is divided into business,the audit plan,the implementation of the audit,the audit report in four phases,and each phase of the work process was improved.In every stage of the audit can effectively control the audit risk.At the same time,this paper also puts forward some suggestions on how to set up the staff management system,strengthen the audit staff's moral construction,practice ability and professional skepticism.