Research On The Risk Prevention And Control Of SME Private Bonds Audit

With the rapid development of China's economy,the demand for financing of small and medium-sized enterprises is also increasing,due to the poor conditions of SMEs,the financing channels are greatly restricted.Since 2012,the Shenzhen stock market and the Shanghai stock market have issued a pilot scheme for SME private equity bonds issued by SMEs,many small and medium-sized enterprises have taken their private-equity bonds as the main way to obtain financing,and also made China's small and medium-sized private equity bond markets develop rapidly.However,as small and medium-sized private equity issuance standards are more relaxed,and only for the issue of qualified investors,not public disclosure,the audit department has not promulgated a new regulation to audit it,still in accordance with the general method.This makes the small and medium-sized Enterprise private bond audit difficulty rise to a certain extent,also make the auditing risk that the accountancy firm faces increases.In recent years,the occurrence of small and medium-sized private debt default events also for the general accounting firms sounded the alarm.Based on the audit of JT Bond by Y CPA firm and the specific situation of JT Company and Y CPA firm,this paper analyzes it under the guidance of audit risk theory.Combining the audit risk of CPA firm with the risk of small and medium-sized enterprises private debt,it is found that there are three loopholes,such as checking risk,professional ethics risk and major misstatement risk,according to the sources and characteristics of various risks,and combining the steps of Y CPA firm on bond Audit,This paper analyzes the effectiveness of the audit risk control in the audit process of Y CPA firm,and concluded that there may be undetected JT Company's own risk,the CPA industry has a strong market competition,the audit process in the selection of audit methods is not appropriate,the audit procedures are not rigorous implementation,CPA Professional quality is not strong.Based on these problems,the paper provides some feasible suggestions for improving the audit risk prevention of small and medium-sized enterprises by improving the prudence of the risk of major misstatement,strengthening the early due diligence,perfecting the quality control system and improving the quality of CPA practice.The article is divided into six parts,the first part briefly describes the research background and literature review,the second part of the study on the subject of the concept and related theory,the third part is the Y accounting firm audit of JT Bond case,The forth part analyzes the problems of Y CPA firm in the process of the audit of JT Bond,andputs forward some countermeasures and suggestions for the above problems,Part VI is the conclusion and prospect.