The main target groups of the express ecosystem: (investors, private equity funds, brokerage institutions, local government decision-makers, express regulatory departments, express delivery operators, media practitioners, express upstream and downstream operators, franchise network owners, express logistics practitioners with an annual salary of more than 300,000 yuan)
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|Integrated Brokerage China Information
| Express Ecosystem Information Group
Recently, the China Note Association has successively interviewed 6 accounting firms, respectively reminding the annual report audit risk prevention of listed companies that may trigger the conditions for stock delisting, the annual report audit risk prevention of listed companies with significant uncertainty in the ability to continue operations, and the annual report audit risk prevention of listed companies that frequently change audit institutions.
The China Note Association said that it is necessary to fully understand the audit situation of the audited unit in previous years, especially the real reasons for its change of accounting firm, whether there are major differences or intentions to purchase audit opinions. Maintain professional skepticism and promptly initiate anti-fraud procedures for matters that show signs of fraud.
Alerts to the risk of frequent changes in auditors
Recently, the China Note Association issued an interview letter for the audit of the 2023 annual report of listed companies to Zhongxing Cai Guanghua Certified Public Accountants (Special General Partnership) and Asia-Pacific (Group) Accounting Firm (Special General Partnership), reminding the audit risks of the annual reports of listed companies that frequently change their audit institutions, and requiring the accounting firm to explain the audit of the 2023 annual reports of the newly undertaken listed company customers.
In the daily supervision, the China Note Association found that a small number of listed companies frequently changed audit institutions. Among them, some listed companies frequently change the auditors of different annual financial statements, and some listed companies change auditors several times in the same year. Some accounting firms have concentrated on undertaking the audit of the annual reports of listed companies that frequently change their audit institutions. The China Note Association reminds relevant accounting firms and certified public accountants to focus on the following aspects when performing relevant audit business.
The first is to strengthen quality management. The accounting firm should assign an audit team with independence requirements and professional competence to ensure the necessary time and resources for the execution of the business; the project partner should fully and appropriately participate in the whole process of the audit project, guide, supervise and review the work of the project team members; strictly implement the project quality review, and the project quality review partner with sufficient experience and ability will make further judgments on the major matters and major judgments of the project team.
The second is to pay attention to the communication between former and former CPAs. The certified public accountant shall have a relationship with the former certified public accountant on the integrity of the management of the listed company, the differences of opinion between the former certified public accountant and the management on major accounting, auditing and other issues, and the management fraud reported by the former certified public accountant to the governance of the audited unit. Communicate violations of laws and regulations, as well as internal control deficiencies that deserve attention, and fully understand the auditee's audit situation in previous years, especially the real reasons for its change of accounting firm, whether there are major differences or intentions to purchase audit opinions.
The third is to maintain professional skepticism. In the process of auditing, CPAs should implement the concept of risk-oriented auditing, maintain professional skepticism, consider the possibility of management overriding internal control, fully identify and assess the possible risk of material misstatement, and increase the unpredictability of targeted audit procedures and their implementation; pay attention to the consistency of relevant accounting policies and accounting estimates, especially whether there is any manipulation of profits through abuse of accounting policies and changes in accounting estimates; prudently evaluate audit evidence, comprehensively analyze and evaluate the adequacy and appropriateness of audit evidence, and pay attention to audit evidence that may be contradictory and biasedIf the audit evidence obtained through the implementation of the further audit procedures, or the new information obtained, is inconsistent with the audit evidence on which the CPA's previous assessment was based, the CPA shall revise the risk assessment results and modify the further audit procedures originally planned accordingly.
Fourth, pay attention to the impact of non-standard audit opinions in the previous period on the current period. The certified public accountant shall assess the impact of the non-unqualified opinion on the financial statements of the previous year on the financial statements of the current period and consider the appropriate reflection in the audit report, and determine whether there is any misstatement of the opening balance that has a significant impact on the financial statements of the current period and the provisions of the implementation opinions, evaluate whether the material deficiencies found have been rectified before the base date, and whether the rectified internal control has been in operation for a sufficient period of time before the base date, and appropriately issue internal control audit opinions.
Pay attention to the risk of operational uncertainty
Recently, the China Note Association issued an interview letter for the audit of the 2023 annual report of listed companies to Beijing Chengyu Certified Public Accountants (Special General Partnership) and Shenzhen Yongxin Ruihe Certified Public Accountants (General Partnership), reminding the audit risks of the annual reports of listed companies with significant uncertainty in their ability to continue operations, and requiring the accounting firms to explain the audit of the 2023 annual reports of the relevant listed company customers.
Some listed companies are affected by factors such as the external environment and internal operation and management, and there are significant uncertainties in their ability to continue operations, and the audit risk is high. The China Note Association reminds CPAs to focus on the following aspects when performing relevant audit business. The first is to fully identify matters or situations that have major doubts about the listed company's ability to continue operations. Certified public accountants should take into account the economic environment, industry conditions, the scale and complexity of the listed company, the nature and status of business activities, the degree of influence by external factors, changes in key management personnel, financial pressure, external guarantees, Legal proceedings and other specific circumstances, analyze whether there are abnormal circumstances that may lead to significant doubts about the auditee's ability to continue operations, pay attention to whether the management has any signs of profit manipulation to achieve the purpose of going concern or avoid triggering the delisting risk warning, focus on the authenticity, commercial reasonableness, degree of relevance and sustainability of the transactions related to profits at the end of the reporting period, and fully communicate with the governance on the identified matters or situations.
The second is to properly evaluate the management's assessment of the ability to continue as a going concern. CPAs should pay attention to the procedures followed by management to make the assessment, the assumptions on which it is based, whether it includes all relevant information that came to the attention of the certified public accountants during the course of the audit, whether management's future response plan improves the current situation and whether it is feasible, whether management's assessment of the going concern covers the period of 12 months from the date of the financial statements, whether it evaluates the reliability of the underlying data used to prepare the cash flow projections and determines whether the assumptions on which the forecasts are based are adequately supported, Matters or circumstances that may give rise to material doubts about the ability of the listed company to continue as a going concern.
The third is to reasonably judge whether the matters or circumstances that give rise to significant doubts about the ability to continue operations constitute material uncertainty. The certified public accountant shall, through the implementation of additional audit procedures, obtain adequate, Appropriate audit evidence to evaluate whether it is appropriate for the listed company to use the going concern assumption in the preparation of its financial statements, appropriate use of professional judgment to evaluate the materiality and likelihood of the potential impact of uncertainties in the relevant matters or circumstances, and to draw conclusions on whether the financial statements alone or aggregate constitute material uncertainties, and whether the financial statements have adequately disclosed the matters or circumstances that give rise to material doubts about the company's ability to continue as a going concern and the response plan, and clearly identify the existence of material uncertainties related to going concern and their consequences.
Fourth, properly determine the content of the audit report and the type of opinions. Considerations related to the going concern assumption may involve various types of audit opinions, and the certified public accountant should comprehensively consider whether the application of the going concern assumption is appropriate, whether there are material uncertainties, whether the material uncertainties and relevant circumstances have been fully disclosed in the financial statements, and determine the impact on the type of audit opinion or the audit report, and shall not substitute a going concern paragraph for a qualified opinion, or a qualified opinion for a negative opinion or unable to express an opinion.
Pay attention to the audit risk of possible delisting
Recently, the China Note Association issued an interview letter for the audit of the 2023 annual report of listed companies to Asia-Pacific (Group) Accounting Firm (Special General Partnership) and Guangdong Hengan Certified Public Accountants (General Partnership), reminding the audit risks of the annual report of listed companies that may trigger the conditions for stock delisting, and requiring the accounting firm to explain the audit of the 2023 annual report of the relevant listed company customers.
On December 29, 2023, the Shanghai Stock Exchange issued the Guidelines for Information Disclosure of Delisting Risk Companies, which requires accounting firms to enhance their awareness of risk compliance, strengthen the quality control of audit practice, pay attention to the risk of material misstatement related to the risk of delisting, issue appropriate audit opinions, and prudently issue special verification opinions such as deduction of operating income and determination of non-recurring profit and loss. The China Note Association reminds CPAs to focus on the following aspects when performing relevant audit business. The first is to do a good job in risk assessment. CPAs should strictly implement the concept of risk-oriented auditing, have an in-depth understanding of the audited entity and its environment, prudently assess the risk of material misstatement, focus on the effectiveness of internal control and the risk of financial statement fraud, maintain professional skepticism, and effectively identify, assess and respond to the risk of material misstatement of financial statements caused by fraud and error.
The second is to increase investment in anti-fraud resources. Certified public accountants maintain professional skepticism in the audit of annual reports, increase the unpredictability of audit procedures, and initiate anti-fraud procedures in a timely manner for matters with signs of fraud. Particular attention is paid to the risk of fraud where management overrides control, and to test whether the accounting entries made in the course of daily accounting and other adjustments made in the preparation of the financial statements are appropriate; 。
The third is to pay full attention to revenue audits. CPAs should pay attention to the authenticity and integrity of income, costs and expenses, pay attention to the compliance of revenue recognition policies, judge whether the relevant business has a sustainable operation and profit model, and whether it has commercial substance, and pay attention to the abnormal situations of important counterparties, such as the deviation between the characteristics of the customer size and the transaction amount, the important transaction object is an invisible related party, and the important transaction object is included in the list of dishonest persons.
The fourth is to assess the impact of the non-standard audit opinion on the financial statements of the current period. The certified public accountant shall obtain sufficient and appropriate audit evidence, verify whether the matters involved in the non-standard audit opinion of the previous period have made significant progress in the current period, assess the impact of the matters that led to the issuance of non-standard opinions in the financial statements of previous years on the financial statements of the current period, pay attention to whether there are material differences between the key matters touching the delisting situation and the audited entity, and consider appropriately reflecting them in the audit report.
Express ecosystem
It has been settled on the following platforms
雪球 | 同花顺 | 东方财富 | 富途|格隆汇
微博 | 今日头条 | 知乎 | 企鹅号
抖音 | 小红书|快手|视频号|喜马拉雅
Twitter|ins|YouTube|Station B
Recently, the stock market continues to fluctuate, some criminals illegally make profits, harming the legitimate rights and interests of investors, I will increase the supervision of trading behavior, enrich the means of clue screening, make overall arrangements for special verification, strengthen the "penetrating" transaction monitoring, use multi-dimensional technical means to collect market intelligence, and carry out joint research and judgment with the Ministry of Public Security, and find a number of cases suspected of manipulating the market and malicious shorting.
An illegal gang controlled more than 100 securities accounts to manipulate a certain stock, used continuous pulling, reverse trading and other methods to affect the stock price, and then waited for the opportunity to clear the stock and smash the shipment, resulting in a flash crash and continuous decline in the price of individual stocks, with a total of 2.7 billion yuan sold and an illegal profit of about 130 million yuan.
The actual controller of an investment institution manipulated the prices of more than 20 stocks by suppressing stock prices, absorbing chips at a low level, and continuously pulling up, resulting in rapid fluctuations in the prices of individual stocks, and even extreme markets such as "sky flooring" within a day, from which the transaction illegally profited 140 million yuan.
A certain lawbreaker took advantage of his capital advantage and used hundreds of millions of yuan to frequently make false declarations for many futures products on the futures exchange, creating a false impression of trading, deceiving other investors, and taking the opportunity to sell them for a profit of more than 4,000 yuan.
The China Securities Regulatory Commission (CSRC) insists on responding quickly and resolutely investigating and dealing with illegal acts that affect the stable operation of the stock market and harm the legitimate rights and interests of investors.
Manipulating the market to maliciously short-sell, seriously eroding the people's "money bags", has stood on the opposite side of all stockholders, disrupting the normal rhythm of the healthy and stable operation of the stock market. The China Securities Regulatory Commission will maintain a high-pressure posture of "zero tolerance", resolutely crack down, and let those who dare to illegally manipulate and maliciously short sellers "go bankrupt and sit in prison". In this warning, don't defy the law and take the chestnut from the fire.
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The main target groups of the express ecosystem: (investors, private equity funds, brokerage institutions, local government decision-makers, express supervision departments, express logistics operators, media practitioners, express logistics upstream and downstream operators, franchise network owners, express logistics practitioners with an annual salary of more than 300,000 yuan.
illustrate
The publication of this article is for the purpose of conveying more information, which does not mean that it agrees with its views or confirms its description, and does not make any guarantee for its authenticity, accuracy, completeness and appropriateness of use.
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