Research On Business Process Reengineering Of Integrated Audit

After the Sarbanes-Oxley Act was enacted,the United States began to implement integrated audits,requiring financial statement audits and internal control audits to be integrated and implemented by the same accounting firm to improve audit efficiency.In 2010 and 2011,China issued the “Guidelines for Auditing Internal Controls of Enterprises”,“Implementation Opinions on Auditing Guidelines for Internal Controls of Enterprises”,and “Guidelines for the Preparation of Auditing Working Papers for Internal Controls of Enterprises” and other documents,following the practice of the United States,and began implementing integrated auditing.So,how to carry out the integrated audit more effectively has become an important issue worthy of study.This article adopts a case study method,taking the integrated audit conducted by Certified Public Accountants for Guanghui Automobile as an example,and applying the risk-oriented auditing theory and business process reengineering theory to discuss the case.The research found that the Guanghui Automobile integrated audit business process has the following problems: lack of risk assessment in the audit planning stage,and only judge the business' s acceptability;the auditors did not have a comprehensive understanding of the company's internal control during the audit implementation stage,and IT audit Superficial,failing to recognize the unity of financial statement auditing and internal control auditing.At the same time,employees lack awareness of risk management in the process of auditing procedures,resulting in repetitive and inefficient auditing procedures.The audit report stage lacks a post-period audit feedback mechanism.In this regard,this article reengineered the integrated audit business process.The overall idea of business process reengineering is to fully implement risk assessment,a comprehensive risk assessment should be carried out to enhance the risk awareness of employees.Secondly,in the implementation stage,a comprehensive evaluation of the internal control of the audited unit will be conducted to fully understand the internal control of financial reporting and the internal control's effectiveness.In the final reporting phase,a post-audit feedback mechanism is established to audit business and financial integration,especially in internal control audits.Our assessment of internal control needs to be integrated with business process control.To evaluate the subsequent improvement of the enterprise.Taking the sales and collection cycle as an example,the specific implementation process of the integrated audit business process after reconstruction is discussed.The main points are: the development of the audit plan needs to assess the risks of the sales and payment cycle and decide the allocation about resources;the audit implementation stage comprehensively evaluates all aspects of control risks,from enterprise-level risks to business-level risks,and even residual risks.After assessing the risk,the CPA responds to this risk.In the audit report stage,suggestions were made for rectification of problems such as irregular sales approvals and vague timing in the confirmation of delivery revenue,and audits followed up the implementation afterwards.