Research On Fair Value Accounting Estimates Of Audit Risk And Preventive Strategies

One of the basic requirements of accounting information is the reliability of accounting information.The economy grows faster and faster,the desire for accounting information users of accounting information users began to pay more attention to the relevance and timeliness of accounting information.The emergence of fair value measurement attributes meets current needs.Subsequently,the academic research on the procedures and technical methods of fair value accounting estimation audit began to emerge,which has become a huge challenge for the current academic community.As an accounting measurement attribute,fair value has been promulgated in China's "Enterprise Accounting Standards" since 2007.The fair value accounting information contained in the financial statements relates to confirmation,measurement,disclosure,etc.Fair value measurement has become one of the trends in accounting measurement at home and abroad.There has been a new development in the status of fair value measurement.Fair value measurement attributes have significant advantages in accounting practice,and naturally have a certain degree of defects.The extensive use of such measurement attributes can reduce the asymmetry of accounting information to a certain extent.External information requires users,such as government departments and potential investors,to clarify the company's operations in a timely and sufficient manner.Therefore,information asymmetry can be reduced,thereby improving the effectiveness of decision making.However,China is in a period of economic transformation.It is difficult to obtain fair quotes in active markets.Fair value accounting measurement can only rely more on management's valuation model,basic assumptions and parameters,which makes accounting information full of subjectivity and Uncertainty.This has made auditors have to face new challenges.The academic community should attach great importance to the impact of fair value measurement on accounting and auditing,and explore effective ways to deal with the audit risk brought by fair value accounting estimates.Therefore,this paper reviews the relatively mature fair value accounting estimation audit findings and experiences at home and abroad,and combines the fair value measurement in China's practical operations,systematically summarizes and studies the fair value audit procedures and technical methods,combined with Price water house Coopers In the case of auditing " CITIC Securities",this paper studies the identification,evaluation,manifestation,causes and auditing strategies of auditing risk of fair value accounting estimates,and hopes to provide reference for fair value accounting estimation audit theory system and practical operation.