1. Basic information on the securities investment of the audited entity. Mainly refers to the institutional setup, management mode, business policy and financial management of securities investment.
2. Audit purpose. Mainly explain the nature and expected results of audit clients and audits. (Certified Tax Accountant)
3. Important accounting issues and key audit links. It is mainly determined according to the securities investment scale of the audited entity, the complexity of the business, the evaluation of inherent risks and control risks, and the auditors' previous audit experience. (Certified Public Accountant)
4. Review work progress, time arrangement, division of labor among team members, etc.
Second, the internal control test
A comprehensive investigation, analysis and evaluation of the internal control system mainly includes whether the internal control system is sound, whether the institutional setup, business policy, financial accounting and management, assessment and distribution system are perfect. (Certified Tax Accountant)
Third, conduct substantive tests.
1. Substantive testing of institutional setup
For large-scale investment, a special investment management department should be set up, which is in charge of the general manager or deputy general manager of the company. Small investment is set up by an investment team or a special person in charge, and a company leader is responsible for it, which is likely to have loopholes. The substantive test of institutional setup is mainly to prove whether relevant personnel have fulfilled their respective duties by investigating relevant personnel and consulting relevant records.
2. Substantive test of business policy
Management policy refers to the decision-making mode of securities investment. Decision-making methods are mainly divided into collective decision-making by leading groups or decision-making by operators themselves. Under the background of China's current securities market, we should focus on the timing of buying and selling and what kind of securities to buy plays a decisive role in the efficiency of securities investment. (Certified Public Accountant)
3. Substantive testing of the evaluation and distribution system
First of all, we should understand the company's business objectives and reward and punishment system for securities investment, and then check and verify the compliance of the assessment and distribution system for securities investment in combination with the profit and loss, profit distribution and capital flow of securities investment. Focus on checking whether the enterprise uses various excuses, evading inspection and other means to make unreasonable distribution and encroach on the company's interests.
4. Conduct substantive tests on the legality and compliance of securities investment.
Mainly refers to whether the securities investment operation conforms to the Securities Law and the relevant provisions of the CSRC. If there is any self-buying and self-selling without transferring ownership, it will affect the price or volume of securities trading. Open an account and buy and sell securities in one's own name. Misappropriation of public funds to buy and sell securities.
5. Substantive testing of financial accounting and financial management
(1) financial accounting. The focus of this audit is the compliance and correctness of accounting. Does the finance department have a special person to examine and check the transaction records and original materials provided by the investment department in detail, and check the calculation of investment income to verify its correctness? (Certified Tax Accountant)
(2) financial management. Mainly fund management and stock transfer custody management. Because the company's funds are transferred abroad, there are usually many managers involved, and they all have better management procedures. Only check a few of them, and don't do key audit links. The audit should focus on the fund management of the securities margin account.
In this link, the auditor should ask the securities company that opened the account to provide a list of changes in funds since the enterprise opened the account, and review them one by one according to the inflow and outflow of funds. The problems that need attention are:
(1) Pay attention to some funds of unknown origin. For example, according to the list of changes in a company's funds provided by the sales department of a securities company, it is found that the company's funds for securities investment are greater than the total investment recorded in the company's books, and the source of 654.38+0 million yuan is unknown. (Certified Public Accountant)
(2) Pay attention to the repeated transfer-out of funds on the fund change sheet. For example, a company's securities investment fund has two sources: company investment and employee fund-raising. While the investment is still at a loss, the company has raised 500,000 yuan from the securities margin account for repayment of the principal and interest of employees.
(3) Pay attention to the management of transferring deposits (or securities) between the business departments of different securities companies, and individual enterprises use the opportunity of transferring deposits to cover up violations.
(4) Relevant subjects, especially accounts receivable, should also be given due attention in the audit. If a company returns the customer's accounts receivable, then the account has been settled. However, there is no receipt issued by the payee in the attachment of the voucher. In fact, the company used the loan repayment as a pretext to misappropriate funds for securities investment, thus evading the supervision of the company and the higher authorities. (Certified Public Accountant)
(5) Pay attention to whether the audited entity provides detailed information. For example, the information in a company's securities statement is only the number of shares, which is actually the company's initial securities investment margin account. Finally, the company produced a transaction list of the sales department of a securities company, and saw that the company raised funds many times and used them for other purposes.