英文目录

Highlights in This Issue

Prepare for the new audit reports

In the past few years, global auditing standards setters and regulators have both put their focus on the area of audit report and rolled out important measures one after another. The common purpose of these measures is to provide more useful information to report users regarding the audited entities and the audit itself, in addition to the information that have been disclosed in financial statements and auditing reports by the audited entities and auditors. Some of the measures taken are considered as milestones for the global auditing profession. The implementation of new audit report standards signifies that great changes are on the way in auditing practice. Since 2006, China’s auditing standards have converged with international ones, and the CICPA is currently revising the audit report standards.

Discussion on fraud risk of IPO auditing and countermeasures

With the prosperity of capital market in recent years and the approaching of registration system, there is a rapid increase in the IPO business taken by large and medium accounting firms. Meanwhile fraud cases of IPO have been exposed one after another, such as Wanfu Biotechnology, New Land Biotechnology, Green Land Biotechnology, Tianneng Technology, etc., with the accounting firms and CPAs that performed audits punished severely. Fraud risk has become a major risk facing CPAs in IPO auditing. However, as the schems of fraud are getting more and more innovative, complex and concealing, together with the limited resources like time and manpower, it has become a common challenge for large and medium accounting firms as well as CPAs to effectively tackle fraud risk.

Research on the construction of cloud platforms in accounting firms

By analyzing the bottleneck of the informatization of accounting firms in China, this article starts with the research question of integration and innovation of cloud computing and informatization of accounting firms, and points out the advantages and necessity of cloud platforms construction in accounting firms. It preliminarily designs the main structure, service scope and participating parties of cloud platforms, based on the fundamental concept and technology of cloud computing as well as the business characteristics and management needs of accounting firms. The author also attempts to discuss the key issues that impact the realization of cloud platforms.