Research On Integrated Auditing Of C Hydropower Engineering Company By D Accounting Firms

Due to the need for internal control auditing in China’s main board listed companies,people have found that there are many auditing procedures that can be used for reference and shared between internal control auditing and financial statement auditing.Therefore,the concept of integrated auditing is put forward.Integrated auditing can improve auditing efficiency,reduce auditing costs and provide high-quality auditing reports for expected users of financial statements.Hydropower is the second largest pillar industry of energy and renewable energy in China,which is highly consistent with the current energy upgrading strategy.Hydropower projects have a long cycle and high investment.Two different accounting firms carry out financial statement auditing and internal control auditing respectively by using the traditional auditing mode.The increase of auditing costs also brings a great burden to hydropower engineering enterprises.Due to the construction of advanced capital,the hydropower industry has a longer payback period than other industries,and the business growth rate is affected by the long-term downward trend in the growth rate of hydropower and the overall infrastructure market.These factors will cause enterprises to focus on benefits while ignoring operational risks in the process of development.Implementation of integrated audit can take the evidence and conclusions obtained from financial statement audit and internal control audit as reference to each other,reduce audit risks,improve audit quality and improve enterprise information transparency.This paper takes the integrated audit of C Hydropower Engineering Company carried out by D Certified Public Accountants as a research case,and puts forward suggestions for the company problems found in the process of integrated audit and guarantee for the implementation of integrated audit.This article is divided into six chapters for in-depth introduction: The first chapter is the introduction,proposing the research background,purpose and significance,research content and methods,literature review and research roadmap.The second chapter introduces the definition and brief process of financial statement audit and internal control audit,defines the concept of integrated audit and the four theoretical bases on which it is based.In the third chapter,starting from the basic situation of C Hydropower Engineering Company,the current situation and problems of C Hydropower Engineering Company’s audit are analyzed in depth,and problems are found in three aspects: audit cost,audit efficiency and audit service quality.The fourth chapter takes C Hydropower Engineering Company as an example,designs the integrated audit process of C Hydropower Engineering Company,at the same time,implements the integrated audit to the company,and finally analyzes the implementation effect of the integrated audit of C Hydropower Engineering Company.The fifth chapter guarantees the development of integrated audit from C Hydropower Engineering Company and D accountant firms.The sixth chapter summarizes the text on the basis of the basic completion of the paper,reflects on the limitations of the paper,and puts forward the prospect.This paper constructs the theory of integrated auditing,designs a set of integrated auditing business process which accords with the actual situation of enterprises on the basis of enriching the theoretical research of integrated auditing,and applies the process to the integrated auditing of C Hydropower Engineering Company,which also constitutes the highlight of this paper.