Zoneco Of Consumptive Biological Assets Audit Procedure Research

In recent years,the financial frauds of Chinese agricultural listed companies by means of inflated assets or other means occurred frequently.Whether it is the financial fraud of listed companies or their services audit institutions have been severely punished by the Commission and other institutions.Agricultural company's industry has the characteristics of long production cycle,wide distribution,inventory inventory process is complex,large cash transactions,the transaction object dispersion,performance is not stable,which leads to the higher risk of audit,the CPA industry experience,professional quality also put forward very high request.As a kind of special and important assets,the consumptive biological assets have become one of the important reasons for the failure of agricultural companies.In October 31,2014,Zoneco announced that affecting by the Beihai cold water,patinopecten yessoensis,the main product of Zoneco,had got a few production,which causes the original the expected profit of third quarter into a loss of 812 million.This incident has aroused widespread concern.According to the accounting system,patinopecten yessoensis is a kind of the consumptive biological assets.This thesis take the Zoneco as a case to research,finding that the features of consumptive biological assets,such as the wide distribution and complex stocktaking,had increased the audit difficulty.This thesis has analysis the audit procedures of consumptive biological assets,and get to know the consumptive biological assets with the views from accounting and audit industry.Also,this thesis concludes some suggestion about the audit procedures.The audit of consumptive biological assets has been a worldwide accounting problem.This thesis is based on the Zoneco incident,analyze and propose suggestion,makes some suggestions for the audit procedures and the audit guide of consumptive biological assets.