Case Study Of Financial Fraudin Fushun Special Steel

The problem of financial fraud of listed companies has a long history,which makes the securities markets of all countries in the world extremely troubled.Although China’s securities market started late,but developed rapidly,listed companies listed,the number of transactions increased year by year,showing a good development trend.However,behind the prosperity also appeared a lot of problems,financial fraud cases like a bomb broke out between listed companies,with more and more listed companies in recent years,we also found that the forms of financial fraud more diversified,more harmful,not only to the capital market buried hidden dangers,but also to many investors serious losses.Although our government and regulatory authorities have introduced various legal systems plus strong supervision,but from the frequency of financial fraud in recent years,the problem has not been effectively controlled.This paper is carried out under such a background,in the way of case study,select Fushun Special Steel financial fraud case as the research object,combined with the three major factors of fraud triangle theory "pressure "," opportunity "," reasonable excuse" to conduct in-depth analysis of the reasons for its fraud,and put forward the corresponding countermeasures : " reduce the pressure of fraud "," reduce the opportunity of fraud ",and "eliminate false excuse ".In the fierce market environment,listed companies often face the pressure of shareholders’ profit requirements,and fear of losing their listing identity and thus losing the financing channel of equity financing,coupled with various laws and regulations,regulatory mechanisms,accounting system is not.Perfect,as well as the cover-up connivance of intermediary organizations,the problems existing in the internal governance of the company itself,various factors have opened a convenient door for the financial fraud of listed companies,and the lack of integrity and moral culture within the enterprise and the management’s own fluke mentality also find the excuse for the counterfeiters to comfort themselves and let them start the road of fraud without any worries.Therefore,if we want to prevent and control the vicious behavior of financial fraud,we should start with the three major causes that lead to financial fraud,alleviate and eliminate the three major causes,nip the fraud in the bud,and curb the financial fraud from the source.At present,both the accounting and financial circles devote a considerable part of their energy to the effective prevention and control of financial fraud,but it is an extremely complex systematic project to prevent and control the financial fraud of listed companies and improve the quality of accounting information disclosure of listed companies,and the distance of its governance is arduous and long.Therefore,through the study of the factors of financial fraud and the countermeasures,this paper can not only enrich the theoretical research results of our country in this field,but also play a leading role in solving the problem of financial fraud and promote the healthy development of China’s securities market.