Research On Audit Failure Of Y Listed Companies

Audit failure of listed companies has gradually evolved into a social problem because of its wide range of implications.False sales revenue,false profits and other accounting information have impacted the effectiveness of the securities market,disrupted the order of the capital market,questioned the real value of stocks,and the integrity of listed companies is facing a huge crisis.The false financial report makes investors make wrong judgment,which not only makes them lose the economic benefits,but also loses the confidence in the economic market.Accounting firms that issue guarantees for listed enterprises and issue audit reports bear responsibility and losses for audit failures,which seriously affects the orderly operation of the national market economy.Therefore,a comprehensive analysis of the root causes of audit failure of listed enterprises,targeted to take effective solutions,the implementation of efficient economic and market regulation has become an urgent matter.Analysis of listed companies audit failure events,can make CPA to reduce audit failure events,avoid certified public accountants audit risk,while the majority of investors have some of the listed companies in the financial information to identify and analysis ability,thereby increasing the chances of effective auditing reports issued by certified public accountants,increase the probability of investors identify enterprise financial fraud,and thus increase the cost of enterprise financial fraud,such enterprise financial fraud can decrease relatively,stem from the root cause of the incident occurred,the health,the establishment of the order of the market to have the important meaning.In this paper,Y listed company which successfully achieved reorganization and listing by backdoor in August 2015 was taken as the sample.Firstly,the process of financial fraud was analyzed,and the specific means of financial fraud was studied to find out the general rules of financial fraud.Secondly,it analyzes the problems existing in the audit process of zhonghua accounting firm and the adverse impact of audit failure on relevant personnel and the entire financial market.Finally,according to the results of the analysis,the paper puts forward the countermeasures to prevent the audit failure of listed companies from three aspects: auditing subjects,audited units,government and other regulatory departments.It is hoped that this representative case can be used to prevent audit failure,avoid audit risks,crack down on financial fraud of Chinese enterprises,effectively rectify and promote the securities market and audit industry.The healthy and orderly development has played an active role.