Research On The Audit Failure Of Listed Companies

In the development of the market economy,the audit industry has developed rapidly like bamboo shoots after a spring rain,and the number of certified public accountants and audit firms have also grown rapidly.However,the fraud cases of accounting firms that broke out in recent years have caused people's concern about audit firms as well as financial fraud for companies,especially listed companies.In this paper,the Asia Pacific industry fraud cases in recent years have been selected for research.Through the use of case analysis methods,the audit failures of listed companies have been analyzed.The study of this paper is based on a large number of literature readings and incorporates relevant theories.The research carried out by the analysis of the causes of multi-parties has positively contributed to the development of related fields.The research of this paper mainly consists of the following parts: The first part of the article is the introduction part which includes the research background and significance,and the relevant literature review includes research on audit failures and research on the causes of audit failures,and identifies the research ideas and research methods of this article.The second part of this article is about the basic theory and summary of audit failure.It also analyzes the related concepts of audit failure,including the definition of audit failure,the influencing factors of audit failure,the deviation of audit objectives from auditing standards,and the non-compliance with auditing rules during the audit process.The reasons for the failure of the current audit include: lack of independence of the CPA and lack of professional ethics,incompleteness of the internal control system of the accounting firm,system defects of the audited entity,audit fee system and related legal systems.The failure of the audit will have certain economic consequences.It will have an impact on the accounting firms and CPAs,on the investors,and on the society.The third part analyzes the performance of Ruihua Certified Public Accountants on Asia Pacific Industrial Auditing.The overview of Ruihua Certified Public Accountants includes the development history of Ruihua Certified Public Accountants,the service areas of Ruihua Certified Public Accountants and the industrial status of Ruihua Certified Public Accountants.Make an overview.The study of the Asia-Pacific industry overview starts with the development history of Asia-Pacific industries,the Asia-Pacific industries,and the financial conditions of Asia-Pacific industries.Among the manifestations of Ruihua Certified Public Accountants' failure in the audit of Asia-Pacific Industries,Ruihua did not reasonablyconsider the impact of the post-term matters on the impairment provision of long-term equity investments,and Ruihua did not take appropriate measures to handle the identification in the audit process.The accounting errors and the certified public accountants of Ruihua issued an audit report with false records.The fourth part analyzes the reasons and consequences of Ruihua Certified Public Accountants' failure in auditing the Asia-Pacific industry.The reasons from Ruihua Certified Public Accountants are: the limited liability reduces the cost of violation of the firm,and the recruitment system of Ruihua Certified Public Accountants is not perfect.The quality control system of Ruihua Certified Public Accountants is not comprehensive.The reasons for certified public accountants are: lack of professional skepticism of certified public accountants,lack of professional competence of certified public accountants,and lack of independence of certified public accountants.Asia-Pacific industry reasons: Asia Pacific Industries has fraudulent practices.Asia Pacific Industrial's accounting statements are not true and the Asia-Pacific industrial accounting procedures are complex.The analysis of the consequences of the failure of the audit,from the penalties and impacts on Ruihua Certified Public Accountants,the penalties and impacts on the relevant certified public accountants,the impact and impact on the Asia-Pacific industry from several perspectives,the last part is the conclusion of the case study and inspiration Through research,it is concluded that the prevention and resolution of the audit failure of listed companies should begin with improving the independence of certified public accountants,improving the professional competency and professional ethics of certified public accountants,and establishing a sound accounting firm's overall quality control.