China’s Audit Law: Audit classification
(1) Based on different types of auditors, it is divided into national (government) audit, internal audit, and social audit (independent audit, private audit, and certified public accountant audit). The above is the most fundamental and important classification. On the basis of such classification forms China's supervisory audit system, that is, a system dominated by national audit, based on internal audit, and with social audit as an important part.
(2) Based on different contents, it is divided into financial revenue and expenditure audit, financial, legal and disciplinary audit, and economic efficiency audit.
(3) Based on the different relationship with the entity being audited, it is divided into internal audit and external audit.
(4) Based on the different scopes of audit, it is divided into full audit and partial audit, or comprehensive audit and special audit.
(5) Based on different times, it is divided into pre-audit, in-process audit, and post-audit.
(6) Based on different locations, it is divided into on-site audit and submission for audit.
(7) Based on different purposes, it is divided into general audit and special audit. General audit refers to audit activities conducted by auditors with the general purpose of auditing accounting statements of an entity to obtain sufficient and appropriate audit evidence in order to supervise, issue economic certificates of, and provide an audit opinion on the accounting statements of the audited entity. Special audit refers to the audit activities conducted by auditors with the special purpose of auditing the specific issues of an entity other than its annual accounting report in order to provide an audit opinion on such issues, such as the audit to confirm capital contributions, property ownership, etc., in pending cases.
Practising lawyers
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Robert Zhang
An international lawyer registered in Shanghai, China. Master's degreePublish…
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Steve Li
An international lawyer registered in Shanghai, China. Master's degreePublish…
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