Author(s)

Ping Kong

Corresponding Author

Ping Kong

Abstract

China's economic development has entered a new normal. Under the background that economic growth has changed from high-speed to medium-high-speed, various uncertainties and instability factors have increased. China's economy is in a period of new normal development, and it is bound to face various risks and challenges, including in the financial field. According to the scope of financial risk, financial risk can be divided into macro-financial risk, regional financial risk and micro-financial risk. The frequent occurrence of various financial turmoil and economic crisis has brought new challenges to China's financial audit work. Effective prevention and mitigation measures for regional financial risks not only help to reduce the possibility of risk, but also help to ensure the continuous improvement of the regional financial system and financial market. Financial audits should also play their own early warning functions and monitor the possible economic risks in each region.

Keywords

Economic Development, Financial Audit, Financial Risk