Author(s)

Zhang Mingkun

Corresponding Author

Zhang Mingkun

ABSTRACT

Changchun Changsheng has declared bankruptcy, but the issue of audit liability behind its vaccine incident will continue to be watched. In the context of the new standard, risk-oriented auditing has become a new concept and method for audit practitioners. The audit risk not only comes from financial statements and internal controls but also includes the production process of the enterprise and the risks it generates. Therefore, accounting firms and their auditors should not only deepen their understanding of the new auditing standards but also apply them to deal with auditing risks and avoid auditing responsibilities that arise when a business fails.

KEYWORDS

Audit responsibility, backdoor listing, risk-oriented audit