Research On The Audit Failure Of Certified Public Accountants

With the development of the market economy and the growth of the capital market,the public's demand for financial information of the listed companies is increasing,so the quality of the audit report has been paid more and more attention by the users of the report.But the separation of business rights and ownership makes the investors do not intervene in the daily operation and management of the enterprise,causing the accounting information and the accounting information mastered by the investors of the enterprise.As an independent third party,CPA should play a vital role in supervision,that is,to realize the real financial information of the enterprise investors and to realize the supervision by the investors to the daily management of the management of the enterprise.But in recent ten years,continuous auditing failures have made CPA and accounting firms trust in the public.In the past few years,the audit failures of the green land,the Wanfu Sheng family and the dragon electric appliance have caused the corresponding CPA and enterprises to be punished by the China Securities Regulatory Commission.Therefore,it is of great practical significance to study the reasons for the failure of CPA audit and discuss the preventive measures for audit failure.Based on the method of theoretical analysis and case analysis,this paper first expounds the background and significance of the research on audit failure,and analyses the literature of audit failure.The second part of the article expounds the related concepts and theories of audit failure,defines related concepts,and analyzes the differences and connections between audit failure and management failure and audit risk.The third part of the article analyzes the punishment decisions made by the China Securities Regulatory Commission from 2007 to 2016 against 34 audit failures,and grasps the current situation and characteristics of the failure of CPA audit in China.The fourth part,taking the failure of the financial statements audit of Asia Pacific industry as an example,expounds the whole process of the event,clarifies the financial fraudulent means of the Asia Pacific industry and the problems existing in the audit process of the certified public accountants.The fifth part of the article,aiming at the case of the failure of the Asia Pacific Industrial audit,analyzes the reasons for the failure of the Asia Pacific Industrial audit,and puts forward the corresponding countermeasures in the sixth part of the article,hoping to improve the consciousness of the accounting firms and their CPA to prevent the failure of the audit in the process of auditing and improve their participation.Audit staff's own professional quality promotes the healthy development of CPA profession,certified public accountants and audited units.The last part summarizes the conclusions of this research.The main contributions of this article are as follows:(1)enrich the research on the theory of CPA audit in China.Through the analysis of typical cases,this paper expounds the reasons for the failure of CPA audit,and puts forward the policy suggestions and Enlightenment to prevent the audit failure.(2)the reasons for the failure of the audit in the case of the case,and the accounting of the accountants.Some pertinent opinions are put forward by the Bureau,the certified public accountants and the regulatory authorities,which will help to improve the monitoring and management system of the quality of the audit reports of the listed companies in the securities market,and to improve the authenticity of the quality of accounting information provided by the listed companies;(3)the relevant laws and regulations of the CPA industry in China.Provide reference.