Research On Risk Analysis And Countermeasures Of IPO Audit Of Kechuang Board

With the continuous development of China’s securities market and the continuous implementation of the registration system,China’s capital market has also undergone tremendous changes.The Science and Technology Innovation Board shoulders the important mission of national science and technology strategic development.It not only has significant significance in strengthening the development of high-tech industries in China,but also plays a leading role in the reform of China’s market issuance system.The biggest feature of the Science and Technology Innovation Board is the adoption of a securities issuance registration system,which eliminates the need for companies to meet numerous financial requirements to go public like on the main board.The Science and Technology Innovation Board has shifted the focus of corporate issuance to the growth ability and technological level of enterprises,thus attracting a large number of high-tech enterprises to issue and go public.However,the rapid development of the Science and Technology Innovation Board has also brought many problems.The enterprises on the Science and Technology Innovation Board are generally in the initial stage or growth stage,and the size of enterprises is generally small.Therefore,they have weak internal control,weak ability to continue operations,and high financial risks,which will lead to many enterprises preparing to go public with high Audit risk.On the basis of understanding and analyzing the characteristics of the enterprises on the Science and Technology Innovation Board and the audit overview,this paper summarizes the common Audit risk of the IPO enterprises on the Science and Technology Innovation Board,and based on this,analyzes the IPO failure cases of Saihe Intelligent,and finally puts forward countermeasures for the Audit risk of the IPO enterprises on the Science and Technology Innovation Board.Through the research,we found that:(1)By analyzing the characteristics of the Science and Technology Innovation Board,the characteristics of enterprises and its audit overview,the Audit risk of the Science and Technology Innovation Board IPO enterprises is mainly manifested in the risk of material misstatement at the financial statement level.As a case of two failed science and technology innovation board IPOs,the existing risk of material misstatement at the financial statement level mainly includes the risk of continuing operations,macro environment risk,fraud risk and financial risk.The risk of significant misstatement at the level of recognition mainly manifests in the risk of revenue recognition and the risk of R&D investment recognition.The main risks of inspection come from insufficient professional competence of auditors,improper selection of audit focus for IPO companies on the Science and Technology Innovation Board,and unreasonable allocation of audit resources.(2)When auditing IPO companies on the Science and Technology Innovation Board,auditors should continue to pay attention to the industry situation and changes in macro environmental policies of the audited units.At the same time,they should have a thorough understanding and evaluation of the internal control,governance structure,revenue,and R&D investment of the enterprise.By improving auditors’ professional skepticism and competence,and applying high-tech for auditing Strengthen the quality control of accounting firms to reduce Audit risk.It is hoped that this paper can enrich the theoretical basis of Audit risk of IPO enterprises on the Science and Technology Innovation Board,and at the same time,it can provide some reference for future work of auditors,and play a positive role in promoting the development of the Science and Technology Innovation Board.