文章基本信息

标题：Proposed Analytical Framework to Assess Audit Risks
本地全文：下载
作者：Wenmin Luo
期刊名称：Open Journal of Accounting
印刷版ISSN：2169-3404
电子版ISSN：2169-3412
出版年度：2021
卷号：10
期号：2
页码：42-55
DOI：10.4236/ojacct.2021.102005
语种：English
出版社：Scientific Research Publishing
摘要：The risk-oriented audit approach has been being applied in China since 2006 when Chinese Certified Public Accountants Auditing Standards (CCPAAS) was issued by the Chinese Institute of Certified Public Accountants (CICPA). However, most small-and medium-sized CPA firms in China still have difficulty in assessing the audit risk in accordance with CCPAAS with efficient and effective analysis and analytical procedures. Also, there are few studies introducing how to apply analysis and the analytical procedures with the risk-oriented audit approach as it requires external assistance and complex computer procedures. Therefore, this study aims to establish an analytical framework on how to apply analysis and the analytical procedures efficiently and effectively for small-and medium-sized CPA firms in China. It is based on DuPont model assessing the rationality of indicators, which is familiar to the financial officers and auditors. It proves that such an analytical framework is simple to perform since it can easily combine the information based on strategic analysis, business analysis and the analysis of financial statement from personalized audit and audit staffs at all levels can work with it. Under the premise of ensuring the quality of audit, this analytical framework can improve audit efficiency and reduce audit costs that most small-and medium-sized CPA firms need badly when facing challenges.
关键词：Small-And Medium-Sized CPA Firms;Audit Risk;Audit-Oriented Approach;Analytical Framework