Research on the Integration of Financial Reports Audit and Internal Control Audit
Available Online June 2019.
- https://doi.org/10.2991/msmi-19.2019.26How to use a DOI?
- Internal control audit, Financial reports audit, Integrated audit.
- With the introduction of China's internal control audit guidelines, it marks the basic construction of internal control audit system based on the reality of China and the experience of developed countries, but there are no specific operational guidelines, which is not conducive to the full implementation of internal control audit in China. On the one hand, China's auditing theory community has launched a heated discussion on whether to conduct integrated audit or double independent audit. On the other hand, the cost-benefit principle makes improving auditing efficiency and reducing auditing cost become the goal of auditing business. Therefore, this paper aims to find out the key points of integrating the two kinds of audit and analyze them. Discusses the advantages of integrated audit for dual independent audit, and briefly discusses related strategies for integration. Finally, it proves that integrated audit can play the greatest role in these aspects: increasing the guarantee degree of the effectiveness of internal control, meeting the growing needs of investors for financial information, promoting the healthy development of capital market, and reduce the heavy financial burden faced by enterprises in hiring CPAs for financial reports and internal control audit respectively.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Pu-Yi Zhu PY - 2019/06 DA - 2019/06 TI - Research on the Integration of Financial Reports Audit and Internal Control Audit BT - 6th International Conference on Management Science and Management Innovation (MSMI 2019) PB - Atlantis Press SP - 141 EP - 145 SN - 2352-5428 UR - https://doi.org/10.2991/msmi-19.2019.26 DO - https://doi.org/10.2991/msmi-19.2019.26 ID - Zhu2019/06 ER -