Problems that should be paid attention to in the a

Problems that should be paid attention to in the audit of enterprise group financial companies

the enterprise group financial company is established in accordance with the company law and the measures for the administration of enterprise group financial companies. It is a non bank financial institution that provides financial services to enterprise group member units (hereinafter referred to as member units) and focuses on medium and long-term financial services. The Ministry of Finance promulgated the new "accounting system for financial enterprises" in 2002 and implemented it in financial listed companies from January 1, 2002; Since then, some new regulations have been issued for financial enterprises. Based on personal experience, the author believes that the following issues should be paid attention to in the audit of enterprise group financial companies

I. review of the provision for impairment

1. Grasp the changes in the provision standards of the new system

the provision standards and methods of short-term investment depreciation reserves, long-term investment depreciation reserves, bad debt reserves, fixed assets depreciation reserves and intangible assets depreciation reserves are consistent with the enterprise accounting system, What needs to be concerned is that the loan loss reserves should be accrued in accordance with the relevant provisions of the new "accounting system for financial enterprises": (1) special reserves should be accrued in time and in full according to the five level classification results of loans; The specific proportion is reasonably determined according to the risk degree of loan assets and the possibility of recovery. (2) Special reserve refers to the provision for granting loans to specific countries, and the specific proportion is reasonably determined according to the risk degree of loan assets and the possibility of recovery

2. Focus on the following issues

(1) the preparation method of accrual should be submitted to the board of directors for adoption and a written resolution should be formed

(2) when short-term investments are measured at the lower of cost or market price, the depreciation reserves withdrawn shall be verified on the basis of single investment; For short-term investment projects such as stocks and funds, the closing price of the securities market at the end of the year shall be taken as the market price

(3) long term investment includes market price and no market price. It should be judged whether the corresponding impairment provision is required according to the standards stipulated in the new system. The market price of stocks, funds and other items shall be the closing price of the securities market at the end of the year, and shall be compared with its cost; For investment projects without market price, we should understand the actual situation and negotiate with the company's management to reach an agreement on whether to make provision and the proportion of provision

(4) if some short-term investments (funds) are transferred to long-term investments this year, they should be carried forward according to the lower of cost and market price, and the value determined according to this should be regarded as the new investment cost of long-term investments. This treatment should be approved by the board of directors

(5) bad debt reserves cannot be withdrawn in full according to the four conditions specified in the enterprise accounting system

(6) loans should be classified into five levels on a quarterly basis according to the "guidelines for the provision of bank loan losses" issued by the people's Bank of China, and special provisions should be made. Specific accrual proportion: 2% for special interest loans, 25% for subprime loans, 50% for suspicious loans, 100% for loss loans, and 20% for loss reserves of subprime and suspicious loans. At the same time, provision should be made quarterly, and the year-end balance of general provisions should not be less than 1% of the year-end loan balance

(7) provision for impairment of fixed assets, intangible assets, etc. shall be made according to the actual situation

II. Review of financial management income

financial management income is mainly the income received from the Treasury bond entrusted management agreement signed with the securities company. Attention should be paid to whether both parties have stipulated in the agreement the minimum annual rate of return and the recognition principle of income obtained by the company's entrusted securities company for financial management. At the same time, the company should formulate corresponding risk control systems to prevent securities companies from privately selling and misappropriating national debt. The company recognizes the financial management income on the cash basis. According to the new accounting system for financial enterprises, it should be based on the accrual basis. All income and expenses that do not belong to the current period, even if the amount has been received and paid in the current period, should not be recognized and included. Therefore, the payment made by the securities company should be regarded as the advance payment, and the financial management income should be carried forward according to the benefit period

III. review of business tax

1. Master the adjustment of business tax rate, choose non-toxic and harmless or low toxic and low harmful green environmental protection materials and parts that are easy to disassemble and use, and the changes in tax declaration methods

according to the relevant regulations of the State Administration of Taxation, we should pay attention to the following issues:

(1) the business tax rate of Finance and insurance was 6% in 2002 and 5% in 2003, Urban construction tax and education surcharge are accrued according to the business tax payable (5% of the local tax)

(2) according to the regulations, from January 1, 2003, when financial enterprises buy and sell financial commodities (including stocks, bonds, foreign exchange and other financial commodities), they can calculate and pay business tax by summarizing the positive and negative differences in different tax periods at the end of the same accounting year. If the business tax remitted is less than that paid in the current year, they can apply for tax refund, However, it is not allowed to carry forward the parts that are still negative after being aggregated in one accounting year to the next accounting year

2. Business tax on uncollected interest receivable

according to relevant regulations, the accounting period of uncollected interest receivable by financial enterprises has been adjusted from 180 days to 90 days from January 1, 2002. Attention should be paid to how to determine the turnover for which business tax is accrued. Specific attention should be paid to the following aspects:

(1) the interest receivable occurred in the specified accounting period of uncollected interest receivable should be reported and paid business tax

(2) if part of the interest receivable has not been recovered after the accounting period of the uncollected interest receivable or the maturity (including extension) of the loan principal from the date of settlement, it shall be reported to the business according to the actually received interest, and a stable preform tax is also provided

(3) if part of the receivable uncollected interest (including self operated loan and entrusted loan interest) that has paid business tax after January 1, 2001 has not been recovered after the accounting period of the receivable uncollected interest, or the loan principal has not been recovered after the maturity (including extension), it can be deducted from the future turnover. For the receivable uncollected interest that has paid business tax before December 31, 2000, the original windformxt2.0 is a high-performance polyamide material mixed with carbon, which should be deducted from the turnover before December 31, 2005

IV. review of financial supervision indicators

ensure that the financial indicators do not exceed the monitoring indicators every year. Compare and analyze the monitoring indicators according to the audited financial data of the company. These monitoring indicators include: capital adequacy ratio; Liquidity ratio; Proportion of borrowed funds; Entrustment can significantly reduce the loan and investment proportion of body weight; Long term debt ratio; Proportion of liabilities outside the group; Long term investment proportion; The largest proportion of equity investment in a single enterprise; Proportion of self owned fixed assets; Proportion of sales and loans for consumption; Asset quality indicators