Research on Audit Quality Management System of Accounting Firms: The case of the Yabaite Audit Failure

Abstract

 In recent years, the frequent financial fraud and audit failures in the capital market show that the audit work in China has not been as expected by the public, which not only brings serious consequences to the social and economic development, but also reduces the public's trust in the CPA industry. The audit quality directly affects the professional service effect of the certified public accountants, and is the foundation of their survival. In view of the comprehensiveness and systematicness of audit quality management, this paper takes Zhonghua Accounting Firm as the research object, combining with the case of audit failure of Yabaite company, analyzes the current situation and problems of audit quality management of the firm, and puts forward corresponding optimization suggestions and safeguard measures, in order to provide improvement ideas for the construction of audit quality management system, and also bring some reference for audit quality management in the same industry.