During the implementation of the registration-based initial public offering (IPO) system, China’s capital market has encountered new development opportunities, while also presenting unprecedented challenges to the audit work of accounting firms. With the adoption of this system, listing conditions for enterprises have been relaxed and information disclosure requirements have been lowered, yet the demand for transparency and accuracy in financial statements has increased, thereby heightening audit difficulty and audit risk for accounting firms. This study aims to systematically review the theoretical framework of audit risk, clarify its definition, classification, and influencing factors based on a review of relevant literature. Using a case study approach, the paper examines the audit of Huarong Company by Deloitte as a focal case, exploring the causes of audit risks faced by accounting firms under the registration-based IPO system and corresponding countermeasures from multiple perspectives.

Yin Yidan. Causes and Responses to Audit Risks in Accounting Firms under the Registration-Based IPO System: A Case Study of Deloitte. Academic Journal of Business & Management (2026), Vol. 8, Issue 7: 1-6. https://doi.org/10.25236/AJBM.2026.080701.

[1] He, J. Y. (2023, March 18). Ministry of Finance imposes administrative penalties on Deloitte and Huarong. Securities Times, A02. DOI:10.38329/n.cnki.nzjsb.2023.001091. (In Chinese)

[2] Editorial Department. (2023). General Office of the CPC Central Committee and General Office of the State Council issue Opinions on Further Strengthening Financial and Accounting Supervision. Tendering & Procurement Management, (3), 7. (In Chinese)

[3] Sun, T. Y. (2020). The poison of Lai Xiaomin: Blind expansion and disordered operations leave China Huarong unable to recover for over two years. China Economic Weekly, (16), 78–79. (In Chinese)