Research On Audit Risk Of Webcast Enterprise Income

With the gradual integration of intelligent mobile terminals into public life,China’s webcast market has also entered a stage of rapid development.In 2020,under the influence of the epidemic,the webcast industry rose against the market trend;In 2021,the scale of the live broadcast market will be further expanded,and the number of users and operating-revenue will increase significantly.As webcast is an emerging industry relying on the Internet,its audit object and audit content are more complex than ordinary industries.Especially for the audit of its income,the live broadcasting association may swipe gifts and traffic to the internal anchor of the association,and the wide use of virtual currency will make it more difficult to confirm such income,which will bring challenges to the audit work of accountants.At the same time,due to the lack of specific and perfect guidelines,live broadcasting enterprises mainly rely on the professional judgment of Accountants in revenue recognition,which will also increase the difficulty of audit.Therefore,this paper aims to study the challenges faced by the income audit of live broadcasting enterprises,and put forward feasible countermeasures through analysis.By analyzing the development status and business classification of the live broadcasting industry,this paper finds that the live broadcasting enterprise has the characteristics of wide source of income,large amount of data,high degree of electronization,virtualization of transaction currency and so on;At the same time,the income audit risk of live broadcasting enterprises mainly comes from the professional judgment of income recognition,the high uncertainty of income deferred period,the high risk of information system of live broadcasting enterprises and the lagging innovation of audit mode of live broadcasting enterprises.On this basis,taking Joyy as an example,through the analysis of its annual revenue data and revenue recognition methods,this paper finds that the audit risk of Joyy mainly includes three parts:the risk at the financial statement level comes from the fierce homogenization competition,strict supervision of laws and regulations,user stagflation and the uncertainty of the international environment;The identified level risk comes from the problem of income recognition of virtual currency and heat fraud;The inspection risk comes from the lack of guidance of accounting and audit standards and the lag of innovative methods.Finally,policy suggestions are put forward for the major misstatement risk and inspection risk summarized above.In terms of major misstatement risk,it is necessary to improve laws and regulations,establish industry database and strengthen the construction of enterprise income related internal control;In view of the inspection risk,we need to introduce it audit,pay attention to the innovation of key audit technologies,implement targeted substantive procedures for income and improve audit strategies.