The behavior of management and certified public accountants in violation of professional ethics in Zhangzidao incident

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Originated from a joke, a certified public accountant went to an aquaculture company to do an audit. When taking stock, there was a joke: In the first year, I had 50 million turtles in stock. Can you believe it? Take a look in the water. In the second year, I had 654.38 billion turtles in stock, and last year's turtles were born. Can you believe it? You go fishing in the water; In the third year, the flooded turtles all ran away, with great achievements; In the fourth year, I had 200 million turtles in stock. All the turtles that ran away last year came back and kidnapped a number of wild turtles!

This joke has something to do with the recent incident that Zhangzidao scallop stocks drew huge depreciation reserves. The news that the performance of Zhangzidao's third quarterly report has changed greatly can be seen everywhere on the Internet. According to its financial report and announcement, the reason for this huge loss is that the company's marine pasture suffered a devastating blow due to abnormal cold water mass, and the inventory of bottom-sown scallops in some breeding areas was abnormal, which eventually affected the net profit from profit to loss.

This incident touched people's doubts about the financial situation of aquaculture companies, reminded people of some events in the industry before, and triggered various statements. No matter what the facts are, students of Gao Dun Online School can take this opportunity to pay attention to and learn about the inventory of aquaculture and other related agricultural companies, as well as the relevant audit knowledge of certified public accountants, which is beneficial to their study and progress.

First, the stock and biological assets of aquaculture companies account for a large proportion, and most of them are in water or even deep water, which is quite special.

This particularity is a big problem for inventory counting and valuation, because even if some stocks in the water can be fished out for random inspection, it is difficult to accurately estimate the whole. In this regard, many people think that the focus should be shifted from the inventory in water to the input of cost, which may be a solution. Of course, students can learn and discuss the big problem of aquaculture enterprises according to their own work conditions.

Two, about the inventory audit of aquaculture enterprises, the main method is to use expert work.

Experts from Beijing AICPA introduced the inventory counting methods of some aquaculture companies: the key point is to verify the perpetual record of the inventory book of the audited unit and whether the investment measured by historical cost really exists.

For example, the verification of fish stocks should include whether there are original records of buying fry and feed, putting in fry, patrolling the shore, fishing, water quality testing on which fish depend, etc. After collecting the above data, the most relevant factors of book historical cost are found out by regression analysis, and then the theoretical book cost at the end of the period is deduced by mathematical reasoning, and compared with the actual book cost, and the conclusion is drawn whether the actual book cost truly and completely reflects the inventory.

The above is only the method introduced by experts of Beijing AICPA Association, and the specific application problems need to be combined with the actual audit work. In addition, we should also pay attention to the application of some knowledge points of expert work in the audit, which is also the focus of Gao Dun online school teachers in the teaching.

(1) Determine the nature, schedule and scope of the audit procedure according to the actual situation of the aquaculture company.

(two) to judge the competence, professional quality and objectivity of experts. Experts related to aquaculture industry are definitely needed.

(three) to reach an agreement with experts on related work.

(4) The certified public accountant evaluates the appropriateness of the expert work according to the prompt of the online school teacher.

Pay attention to the hot issues of finance and economics, and study in combination with your own lectures, exams and work. While getting news information, everyone has also gained something professionally. Isn't this the best of both worlds?

I hope my answer can help you solve the problem. If you are satisfied, please adopt it as the best answer.

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Gao Dun wishes you a happy life!