Research On Audit Quality Control Of Medium-Sized Institutions Under The Securities Market Record System

In March 2020,the revised new securities law came into force,in which the examination and approval of the qualification of accounting firms to engage in securities services was cancelled and adjusted to double filing management.In July of the same year,the CSRC promulgated the provisions on the administration of the filing of securities service institutions engaged in securities business.According to the requirements of the administrative provisions,small and medium-sized institutions that did not have the qualification of securities service can enter the securities market to carry out audit business after meeting the filing requirements and passing the dual filing management of the CSRC and the Ministry of finance.This also means that the threshold for accounting firms to enter the securities market will be reduced,the supply of Securities Audit will increase,and small and medium-sized institutions will therefore get more opportunities to expand their business scale.However,the reduction of the threshold does not mean the reduction of supervision.In recent years,the industry regulatory authorities have not only significantly improved the review standards of securities audit business,but also increased the punishment for violations.It is worth noting that after the introduction off system,the securities audit failure cases announced by the CSRC include not only small and medium-sized institutions that have just passed the filing application,but also many large institutions with relatively perfect quality control.Therefore,for small and medium-sized institutions that lack securities audit experience,what problems they will face after entering the securities market and how to optimize and improve their audit quality control are worthy of indepth research.Combined with the institutional environment of the filing system and based on the statistical analysis of relevant data,this paper finds that there is still a certain gap in the audit quality control between small and medium-sized firms and large firms.At the same time,under the high requirements of the securities market,the problems in the audit quality control of small and medium-sized firms are more obvious,and even Securities Audit failure cases occur.Based on this,this paper further selects the case of securities audit business carried out by Unitech Zhenqing Institute for research.Through investigating and analyzing the basic situation of the Institute and the public data of relevant business,this paper points out the weak points in the audit quality control system of Unitech Zhenqing Institute from the two aspects of internal quality environment and business process control,including the weak quality environment of the branch office Inadequate consideration of business undertaking,inadequate implementation of audit procedures and non implementation of review work arrangements.The causes are mainly reflected in internal and external environmental impact professional talent reserve,particularity of audit industry and effectiveness of review procedure implementation.Based on this,this paper designs an optimization path for Unitech Zhenqing Institute from the aspects of head office and branch office integration,competitive strategy,human resource management and business process.Finally,based on the case study,this paper provides an overall improvement direction for small and medium-sized institutes to optimize quality control from the four aspects of business development,internal supervision informatization,reputation risk early warning and system localization,in order to help small and medium-sized institutes who are willing to enter the securities market gradually meet the requirements of the securities market by adjusting and optimizing quality control,so as to promote the benign development of the audit industry.