Although asset appraisal and audit are both professional service activities, they are both different and interrelated.
(1) What is the difference between asset appraisal and audit?
1. What are the characteristics?
audit is produced under the background of the separation of the two rights of modern enterprises, which aims to make factual judgments on the authenticity and fairness of the financial status and operating results of enterprises reflected in the financial statements of enterprises, and has obvious notarization characteristics. ?
asset appraisal is the development of market economy, adapting to the needs of asset transactions and property rights changes, aiming at making value judgments for the appraised assets of clients and related parties, and has obvious advisory characteristics. ?
2. Are there different professional principles?
auditors carry out the three professional principles of notarization, protection and construction. ?
asset appraisers must follow the basic economic principles such as supply and demand, substitution, contribution and expectation in their practice. ?
3. Different professional knowledge bases?
audit work is based on accounting, tax law and other economic laws and regulations.
besides economics, law, accounting and other knowledge, the professional knowledge base of asset appraisal is also an important part of it. ?
4. Are the working standards different?
Audit is mainly about the audit of accounting reports. The standard of handling business is the same as that of accounting, but it is quite different from asset evaluation, such as market value and historical cost.
(2) the connection between asset appraisal and audit:
both asset appraisal and audit belong to the category of national economic accounting and are related to currency valuation. In the evaluation of enterprise restructuring (limited company, joint-stock company) and other changes in property rights or property rights subjects, the audited accounting data must be used as the value basis before evaluation. Re-registration of capital verification after restructuring should be based on the evaluation results.
Asset appraisal (external appraisal) and auditing are both intermediary services, with similar professional ethics, such as independence, objectivity and impartiality, and all employees are required to be competent. Specifically, there are:
1. Mutual reference between asset appraisal and audit methods. When using asset appraisal institutions to evaluate and price, they often adopt the same or similar methods as auditing, such as supervision, confirmation, sampling, testing, etc. The working methods adopted in the asset inventory stage include verifying and defining the appraisal object declared by the entrusting party, and a considerable part of the work adopts the audit method, which has the nature of "fact judgment".
according to the requirements of China's current asset evaluation laws and regulations, current assets and corporate liabilities are also included in the scope of enterprise value evaluation, and a considerable part of the evaluation of current assets and liabilities is carried out by drawing lessons from the audit method. When auditing, audit institutions need to use fair value to test the value of assets, and make provision for asset impairment or determine the gains and losses from changes in fair value, which is basically the same as evaluation. Therefore, evaluation and audit have an indissoluble bond.
2. Mutual utilization of assets evaluation and audit data. When the asset-based method is used to evaluate the overall value of an enterprise, the audited business statements and related data can be used as the basic data for enterprise value evaluation. The audit is responsible for checking and verifying the specific amount of each asset, which is reasonable, authentic and authoritative, and the audit results of asset evaluation and utilization are fair.
audits often use evaluation results. Such as fixed assets, inventory and other physical assets, intangible assets such as trademark rights and patent rights, and equity assets such as stock investment, the actual value is determined according to the evaluation value during the audit.
Therefore, asset appraisal reports often use audit results, and audit reports often use the results of asset appraisal. Asset evaluation should take the "end point" of the audit as the "starting point" of the evaluation, that is, the evaluation should be based on the obtained "audited number"; Audit takes the "end point" of evaluation as the "starting point" of audit, that is, audit is carried out on the basis of the obtained evaluation value.
3. Audit uses evaluation technology. Because accounting asset valuation is an important aspect of audit, and accounting asset valuation is closely related to asset evaluation, auditing accounting asset valuation also needs a lot of asset evaluation techniques and methods, and auditing uses evaluation techniques to make the relationship between auditing and asset evaluation closer.
Extended information:
Asset appraisal refers to the process of evaluating and valuing assets by specialized institutions and personnel according to national regulations and relevant information, according to specific purposes, following applicable principles and standards, following legal procedures and using scientific methods.
asset appraisal refers to the professional service behavior of appraisal institutions and their appraisal professionals to appraise and estimate real estate, movable property, intangible assets, enterprise value, asset loss or other economic rights and interests according to the entrustment, and issue appraisal reports. The Law of the People's Republic of China on Assets Appraisal was adopted by the 21st meeting of the 12th the NPC Standing Committee of the People's Republic of China on July 2, 216. It is hereby promulgated and shall come into force on December 1, 216.
Audit is an organization and personnel independent of the audited entity. A supervision activity that examines, evaluates and notarizes the authenticity, legality and benefits of the audited entity's finance, financial revenue and expenditure and its related economic activities.
References: Baidu Encyclopedia-Accounting and Auditing Baidu Encyclopedia-Assets Appraisal