Risk Analysis Of Issuing Corporate Debt Audit Under Risk-oriented Audit

In recent years,China’s bond market has developed rapidly,and more and more enterprises have chosen to issue corporate bonds to raise funds.According to wind statistics,by the end of 2019,the bond market corporate bonds issued a total of 2,464 bonds this year,raising a total of 2.54 trillion yuan,an increase of 62% and 54% over the previous year,respectively,from the above data can be seen in the strong momentum of the development of the corporate debt market.In view of the supervision of corporate bonds,the CSRC has put forward the Measures for the Administration of the Issue and Trading of Corporate Bonds,which require that the relevant data of the issuing enterprises must be reviewed by the intermediary,and the method of examination and the determination of the risk level are not clearly stated.In the practical work,the accounting firm generally refers to the IPO audit method to carry out the audit of the issuance of corporate bonds,but the risk level of the audit of the issuing corporate debt is not as high as the DIVISION of IPO audit.Although this approach makes it more difficult to issue corporate debt audits,it also increases the risk of failure to issue corporate debt audits due to the slightly lower risk levels.Under the background of the gradual maturity of the domestic capital market,the publication and implementation of the new Securities Law is bound to make the audit of issuing corporate debt become an important part of the business of major accounting firms,and will also be the main content of the audit of CPA.In recent years,the frequent burst of of debt-issuing enterprises has made the community pay more and more attention to the audit risk of issuing corporate bonds.Among these mine-breaking enterprises,Wuyang construction has the highest degree of concern,in this context,the main problems studied in this paper are: what are the risks affecting the audit of corporate bonds issued by Wuyang Construction and how to reduce the risk of issuing corporate bonds.This article adopts a case analysis method,taking Daxin Firm’s audit of Wuyang Construction’s corporate bonds as an example,it analyzes the audit risks encountered by Daxin Firm during the Wuyang Bond issuance audit,and proposes countermeasures for the identified risks Strategy.The study found that the major risks affecting Wuyang Bond’s issuance audit are:(1)operating risks at the level of financial statements,financial risks related to solvency,risks arising from strategic transformation and risks caused by improper management;(2)identification The level of accounts receivable and accounts payable has the risk of false records;(3)Inspection risk due to inadequate risk assessment of auditors,unreasonable arrangement of audit procedures and lack of independence.Therefore,this article will proceed from the three levels of major misstatement risk at the financial statement level,the major level of misstatement risk at the identification level,and the inspection risk,combined with Wuyang Construction,to propose strategies to reduce the audit risk of corporate bond issuance.The biggest feature of this article is the use of case analysis method,combining the theoretical basis and the actual situation,by applying the framework of studying the audit risk of financial statements of listed companies to the process of auditing corporate bond issuance,analyzing the risks and risks of auditing corporate bond issuance Countermeasures.The case selected in this article is the first case in the history of the China Securities Regulatory Commission to punish the issuance of corporate debt audit failure,and it has certain representative significance.At present,the domestic research on the audit of corporate debt has not been carried out in many aspects.I hope that through the study of specific cases in this article,the gap in this area can be slightly filled.