Audit of the New Economic Model: A Study on Revenue Recognition, Value Measurement and Audit Challenges in the Platform Economy

Abstract

As the core form of the new economic model, the platform economy encompasses diverse business types including the sharing economy and the gig economy. Its traits of virtualized transactions, diversified participants and intricate revenue models have exerted a profound impact on the traditional accounting systems for revenue recognition and value measurement, as well as on practical auditing work. This paper starts with the business characteristics of the platform economy to analyze the core difficulties in judging the timing and amount of revenue recognition, as well as in measuring virtual assets and platform value. Combined with current accounting and auditing standards, it explores the unique challenges faced by audit procedures, risk identification and evidence acquisition under the new economic model. Finally, it puts forward optimized ideas for revenue recognition and value measurement that adapt to the characteristics of the platform economy, along with practical paths for innovating audit methods and preventing and controlling audit risks. The research is intended to provide theoretical reference and practical guidance for standardizing the accounting treatment of the platform economy and improving the quality and efficiency of auditing.