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Risk Analysis of Major Financial Misstatement in Agricultural Enterprises

In: Ieis 2020

Author

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  • Yunjing Liang

    (Beijing Jiaotong University)

Abstract

In recent years, incidents such as Lvdi, Wanfushengke and Yinguangxia being punished by the Securities Regulatory Commission of agricultural listed companies have frequently occurred. Audit risk has once again become the focus of audit practice. This article takes Gongzhun Meat Food Co., Ltd. as an example to analyze the risk of major misstatement of financial statements from the macro-environmental level and the enterprise level. Among them, the enterprise level is divided into business risk analysis, internal control risk analysis and the use of financial indicators (profit, compensation, debt and operating). After analysis, this paper believes that there are problems with the lack of internal control, false financial data, and low audit effectiveness of related accounting firms in Gongzhan Shares. It is recommended that when internal control is missing, the auditor should focus on the financial data at the end of the audit period and expand the substantive procedures and audits. And for agricultural enterprises, identify risks in special fields such as related party transactions or events.

Suggested Citation

  • Yunjing Liang, 2021. "Risk Analysis of Major Financial Misstatement in Agricultural Enterprises," Springer Books, in: Menggang Li & Gábor Bohács & Guowei Hua & Daqing Gong & Xiaopu Shang (ed.), Ieis 2020, pages 23-34, Springer.
    • Handle: RePEc:spr:sprchp:978-981-33-4363-4_3
    DOI: 10.1007/978-981-33-4363-4_3
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