Research On Accounting Fraud Legal Control Of Listed Companies Of China

The prevention and management of accounting fraud issue has been a global difficult problem which is a trouble in the theoretical realm and the practical realm,even in the United States whose economic system and legal system is known as one of the best market economic system. The enactment of Sarbanes Oxley Act in 2002 is a milestone in the legal system history of accounting fraud control, which making the legislation to control the accounting fraud of USA at the forefront of the world. Therefore, the act related to China's legal system has a positive reference. However, there is still endless stream of accounting fraud after the enactment of the Bill, which has told us that in the draw at the same time we still need to improve and perfect.Accounting fraud of listed companies is rooted in economic interests, deficiencies in corporate governance structure is the basis of whose inherent generated, the failure of external oversight mechanisms is whose outside incentive. Accounting fraud of listed company plays a destructive role on the effectiveness of the government's macroeconomic regulation and control, business management, and the good investment environment construction .Sarbanes– Oxley Act has important historical significance, which has clarifid responsibilities of fraud, and strengthened the information disclosure, increased penalties for violations, improved the relevant provisions of the Audit Committee and provided the authority of the Public Company Accounting Oversight Board. Legal system to control the accounting fraud in china has some limitations, such as corporate governance system defects, the lack of independence of external audit, legal liability imperfect and the chaotic forensic accounting system. Profiting from Sarbanes Oxley Act ,basing on national conditions, We should perfect corporate governance structure in the Board of Supervisors and the audit committee, definitely stipulate the provisions of the right to audit of shareholders, improve the legal system of certified public accountants, initially establish China's forensic accounting system, increase penalties on accounting fraud, improve aspects of the relevant provisions of civil liability.