Study On The Risk Of Transaction Audit Of Affiliated Party Of Shuntian Shipping Company

With the rapid development of the securities market,China's listed companies have been exposed to financial fraud scandal.In order to save transaction costs,expand economic capacity and improve their position in the market economy,various related party transactions emerge at the historic moment.However,related party transaction is a double-edged sword,because it is complex and hidden,leading to many listed companies through the way of related party transaction fraud.This kind of behavior leads to the distortion of financial statement information,which makes it impossible for investors to obtain accurate financial information and harms the normal operation of capital market.In terms of external systems,there is a gap between different rules and regulations on the definition of related party and related party transactions,which gives the listed company the opportunity to manipulate.In practice,the unstandardized disclosure of related party transactions and the intentional concealment by the auditees all increase the audit risk of related party transactions.Therefore,the CPA should pay more attention to the related party transactions in the implementation of the audit procedures,and the control of the related party transaction auditing risks within a reasonable range has become the top priority in the work of the CPA.Shuntian information distortion of the important problems is the problem of related party transactions,therefore Shuntian ship selected as case study,this article has typical significance.This article through the literature review of scholars both at home and abroad,the related party transactions,the cause of formation of audit risk,the material misstatement risk assessment as well as certified public accountants to the affiliated party transactions of audit risk response are analyzed.This paper,in this basic theory,analyzes the beginning and end of the related party transaction between Shuntian Marine and mingde heavy industries.First of all,this paper briefly introduces the situation of Shuntian Marine company,and analyzes the fact that Shuntian Marine intentionally conceals the transactions between related parties and related parties.Modern risk-oriented auditing model is then used to Shuntian ship company affiliated party transactions audit risk from the industry environment,internal control and performance measurement three aspects to carry on the related party transactionsmaterial misstatement risk in audit evaluation.From two angles by the audit object and audit main body analysis Shuntian ship's related party transactions of audit risk factors,finally,based on the analysis of the case of related party transactions facts,put forward the optimization of related party transactions in the audit main body Angle audit risk prevention and control system of Suggestions,such as the implementation of targeted the affiliated party transactions audit procedures,improve the auditor's professional competence and professional conduct,the CPA legal risk consciousness and to grasp the new audit tools,wants to control the affiliated party transactions audit risk of certified public accountants provide reference,promote the health development of auditing profession.