Study On Audit Risk Of Agricultural Biological Assets Measurement

The issue of “three rural areas” is the focus of comprehensive and deepening reform in the new era,as well as the focus of national economic development.The Opinions of the CPC Central Committee and The State Council on Comprehensively Promoting Rural Revitalization and Accelerating the Modernization of Agriculture and Rural Areas,issued in2021,is the 18 th “No.1 Document of the Central Committee” to guide the work on agriculture,rural areas and farmers since the beginning of the 21 st century.The introduction of relevant policies has promoted a high quality development of agricultural economy of our country,many agricultural enterprises competing to be listed,and accelerated the rapid growth of agricultural enterprises,but fraud cases in agricultural plate are also frequent outbreaks,involving biological asset enterprises more.“Yinguangxia” and “Lantian Stock” in the early days,and “Sangseon-won” and “Zhangzidao” in the recent years.The Ministry of Finance issued the Accounting Standards for Business Enterprises No.5-Biological Assets in2006 to regulate the recognition,measurement and disclosure requirements of biological assets.The measurement of biological assets is special,the audit risk is larger,the audit failure probability is larger,which affects the healthy development of the capital market.Therefore,this paper takes the audit of W Company by T accounting Firm,one of the“eight major domestic accounting firms”,as an example.Based on the perspective of biological assets measurement,it applies modern risk-oriented theory to analyze audit risks and puts forward targeted suggestions,which has certain reference value.In this paper,literature research method and case analysis method are adopted to study the biological assets metrological audit risk of W Company on the basis of consulting relevant data,which is divided into six parts.The first part is introduction.The research background and significance,literature review at home and abroad and research framework are introduced.The second part,related overview and theoretical basis.Explain related concepts and theoretical basis.The third part is the analysis of the basic situation of agricultural biological assets quantitative audit.Based on the development and characteristics of agriculture,the audit risk of biological assets measurement was analyzed theoretically.The fourth part,case analysis.W Company biological asset measurement,material misstatement risk analysis,T accounting firm audit risk identification,evaluation and response procedures.The fifth part,biological assets audit risk prevention suggestions.The sixth part,research conclusion and prospect.According to the research,the complexity and difficulty of the measurement of biological assets increase the audit risk,and it is necessary for the relevant regulatory departments,the audited units,accounting firms and certified public accountants to make joint efforts to reduce audit risks and audit failures as far as possible,so as to maintain the healthy development of market economy.However,it is only a case study,the data collection is not comprehensive enough,and the analysis and research have limitations,which need to be studied and discussed continuously in the future.