Research On The Audit Strategy Of P2P Online Lending Platforms

With the development of big data and the prosperity of the Internet era,more and more P2 P online lending platforms are setted up to provide intermediary services for people with borrowing needs and investment needs,which promots the integration of funds and supplemented existing financial market.Since 2011,the P2 P online lending industry has experienced explosive growth at an average annual rate of 300%.As of December 31,2017,a total of 1981 online lending platforms were in operation,and the cumulative turnover reached 62,339.41 billion yuan.However,due to the inadequacy of the accessing mechanism of the P2 P online lending industry,frauds and large-scale bad debts occured from time to time,and the investor' s capital security was not guaranteed.As of December 2017,the number of internet financial platforms was 5,970,the number of problematic platforms was 4039,and the number of problem platforms accounted for 67.65%.Strengthening supervision is extremely urgent.The Interim Measures for the Administration of Business Activities of Internet Lending Information Intermediaries stipulated the mandatory status of the external audit of P2 P online lending platform.As an effective means of economic supervision,auditing plays an indispensable role in regulating the development of P2 P online lending industry.However,so far,the audit coverage for P2 P online lending platforms is extremely low,and the audit strategy is not scientific enough.Based on background above,the author selects the auditing strategies of P2 P online lending platform as the topic of research,and used the annual auditing of NIWODAI in 2016 as the object of case analysis,which ranks first in privately operated platforms.The author combines the case analysis method,summarizing induction method and literature research to write the paper.In the main body of this article,it it firstly introduced the background and significance of the research,domestic and foreign research status,research methods,innovations and deficiencies,basic concepts and theoretical basis,and then analyzes and summarizes the development status and auditing status of the P2 P online lending industry.The audititems of the P2 P online lending platform focused on the financial statements,and NIWODAI platform is just representative of platforms audited on financial statement.Therefore,the author focuses on the 2016 annual audit by Daxin Certified Public Accountants firm for NIWODAI in 2017.The purpose of the auditing strategy is to check information indicators such as the assets and liabilities of NIWODAI platform,the profit situation,flow of cash and the operating conditions,which do not comply with the standards of P2 P online lending platform auditing which regulated in the“Administrative Measures for Online Lendings”.With regard to the requirements for authenticity of fund deposits,security of platform information technology,information disclosure inspection and operation compliance,the author analyzes the importance and usefulness of the above auditing items,summarizing the emergence of the P2 P online lending platform.The problems and insufficiency of the auditing nowadays,especially the 2016 audit strategy of NIWODAI.Finally,according to the problems identified,the author provides corresponding audit recommendations.After reading the regulations from the government,with considering of today's social focusing on P2 P online lending platform auditing,it is believed that the auditing of P2 P online lending platforms,should not only for the financial statements but also should consider the authenticity of deposition,platform information technology security and usefulness,information disclosure inspection and management compliance.The author sums up the recommendations on the P2 P online lending platforms audit,hoping to theoretically enrich and improve theory system of P2 P online lending industry auditing.With the regulatory policy in the future,the content of the P2 P online lending platform auditing will be further in-depth and standardized.As an effective means of economic supervision,the audit will be more directional.In order to further standardize and transparent the P2 P online lending industry,audit strategies and audit priorities should also be continuously adjusted.