Research On Key Audit Matters And Their Disclosure

After the global financial crisis in 2008,the call for improving audit quality and improving the information content of audit reports has become increasingly intense.In 2015,the international auditing and certification standards board(IAASB)revised and issued the new international audit reporting guidelines.It has made significant improvements in improving the audit reporting mode,increasing the elements of audit reports,and enriching the contents of audit reports.The change of audit report mode by international auditing standards objectively requires China to draw lessons from new international reporting standards and adopt new audit reporting mode in time to achieve continuous convergence of auditing standards in China.In order to further standardize the audit of listed companies information disclosure,strengthen the audit report users of auditors of letter and information audit report of the fair,the capital markets to reduce the degree of information asymmetry,improve the capital allocation function of securities market in china.China's Auditing Standards Committee(CASB)also issued the new auditing standards in December 23,2016,and in the implementing rules,it required that new guidelines for the implementation of audit reports for A and H-share companies for mainland use from January 1,2017.Because of the newly issued auditing standards,there are few related researches both at home and abroad.In order to increase audit disclosure information and enhance audit report level,we ease the information asymmetry in capital market and reduce the risk of investors in capital market.Based on the combination of theory and practice,this paper studies the key audit items of A+ H-share company in China.Based on literature review,the paper summarizes the status quo of key audit items.This article hopes to use the above method to analyze China's key audit matters disclosure problems,combined with the audit report priority the implementation of the new standards of foreign companies,to explore China's audit report improvement,through the summary and put forward the corresponding suggestion,a detailed discussion of how to further standardize the audit of listed companies information disclosure,strengthen the audit report to the user the audit of trust and confidence of the fairness of the audit report,to reduce the degree of information asymmetry in capital market,improve the capital allocation function of securities market in China.