会计学院知识库

在过去的十年里，我国经济迅猛增长，行业变迁速度加快，企业面临的市场竞争越发激烈，同时传统企业也面临着产业转型产业链升级。而并购重组不失为一个很好的选择。因此，从2014开始中国并购市场的交易规模不断扩大，其中，跨界并购的交易也时有发生。然而有机遇就有风险，跨界并购热潮蕴含着跨界并购审计风险。为了遏制并购市场恶意炒壳、内幕交易、操纵市场等行为。中国证监会也出台了多项政策文件。加强对重组市场监管力度，严管“借壳上市”和跨界并购。
本文基于以上背景，通过对已有文献研究的归纳梳理，结合亚夏汽车并购中公教育的案例，在对亚夏汽车并购中公教育的交易流程以及对并购过程的审计特质把握上，从并购筹备、实施、整合三阶段的重大错报风险和并购检查风险的视角出发，分析亚夏并购中公的过程中可能产生的跨界并购审计风险，梳理此次跨界并购各阶段可能出现的影响审计的风险因素，引入层次分析法并结合熵权法和逼近理想解排序法，选取了其中具有代表性的十一项二级风险因素，通过评估分析这些风险因素在企业跨界并购审计的影响，进一步评价出这十一个因素在本案例中对企业跨界并购审计的影响程度，增强评价结果的客观性和科学性。最后通过对研究结果的分析，提出了相应的企业跨界并购审计风险防范措施。
研究表明，虽然亚夏汽车并购中公教育的并购审计过程没有出现审计失败的情况，但是由于双方公司所处行业的不同，行业环境、企业自身内部环境、业务范围均有所差异，其引发的并购审计风险也具有一定的特殊性。通过此研究，希望能丰富现有的跨界并购审计研究，对类似的跨界并购交易审计提供借鉴，以此有效防范跨界并购审计风险。

In the past decade, China's economy has grown rapidly, the speed of industry change has accelerated, and the market competition faced by enterprises has become increasingly fierce, while traditional enterprises are also facing industrial transformation and industrial chain upgrading. Merger and reorganization is a good choice. Therefore, since 2014, the transaction scale of China's M&A market has been expanding, among which cross-border M&A transactions also occur from time to time. However, there are risks with opportunities, and the cross-border M&A boom contains the audit risks of cross-border M&A. In order to curb the M&A market malicious speculation, insider trading, market manipulation and other behaviors. The China Securities Regulatory Commission has also issued a number of policy documents. We will strengthen oversight of the restructuring market and strictly control "backdoor listing" and cross-border mergers and acquisitions.
Based on the above background, this paper summarizes existing literature studies and combines the case of public education in the merger and acquisition of Yasha Automobile with the transaction process of public education in the merger and acquisition as well as the audit characteristics of the merger process, and starts from the perspective of material misstatement risk and merger inspection risk in the three stages of merger preparation, implementation and integration. This paper analyzes the audit risks of cross-border merger and acquisition that may occur in the process of Yaxia's merger and acquisition of Zhongong, sorts out the risk factors that may affect the audit at each stage of the cross-border merger and introduces the analytic hierarchy process, combined with entropy weight method and approximate ideal solution ranking method. Eleven representative secondary risk factors were selected, and the impact of these risk factors on the audit of cross-border mergers and acquisitions of enterprises was evaluated and analyzed to further evaluate the impact of these 11 factors on the audit of cross-border mergers and acquisitions of enterprises in this case, so as to enhance the objectivity and scientificity of the evaluation results. Finally, through the analysis of the research results, the corresponding measures to prevent the audit risk of cross-border mergers and acquisitions are put forward.
The research shows that although there is no audit failure in the M&A audit process of Yaxia Automobile's merger and acquisition of China Public Education, due to the differences between the two companies in the industry, the industry environment, the internal environment of the enterprise and the business scope, the M&A audit risk caused by it also has certain particularity. Through this study, we hope to enrich the existing research on cross-border M&A audit and provide reference for similar cross-border M&A audit, so as to effectively prevent the risks of cross-border M&A audit.