Accounting Information Distortion In China Listing Corporation Research On The Problem Of Illegal Cost

Listing Corporation accounting information reflects directly the performance of the business, investors and managers of companies through the analysis of enterprise financial information to predict the future business conditions, make scientific investment decision. Listing Corporation accounting information distortion will be caused once, the state tax revenue and the loss of state-owned assets, affect the healthy development of the securities market, disturb the economic order of the state, to mislead the government macroeconomic regulation and control and other serious consequences, and will bring serious economic losses to investors. Under the conditions of a market economy, individual listing Corporation in order to seek illegitimate interests, through the fictional customer, add assets, false illusion and other means, cosmetic business performance, providing false financial information, listing and financing fraud, damage the interests of investors, the influence of the development of the securities market.Carry on the thorough analysis to the "Wanfu graduate" fraud case mode, economic harm, responsible after the discovery of the listing Corporation, the distortion of the accounting information, for investors, creditors, the employee of the company, the capital market brings serious harm. Fraud after the incident, in accordance with the relevant laws and regulations of our country, the listing Corporation, the company executives, sponsors, sponsors to make the punishment is relatively light. Listing Corporation, the distortion of the accounting information fraud, illegal cost listed illegal income is far greater than after the payment. In Hongkong the "Hontex case," the Hongkong SFC timely launch of the investor rights and interests compensation mechanism, priority compensation deceived investors economic loss, improve investor confidence, but also can play the role of illegal cost increase listing Corporation; at the same time cancel sponsor agency involved the qualification and given heavy fines, the effective supervision of the recommendation institution to perform function practically, intermediary business rules. America Enron Corp fraud, the securities and Exchange Commission to USA Enron Corp huge fines, ask the Enron Corp investors pay for damages, fines Enron Corp executives and accountants, the recommendation institution, and the introduction of the Sarbanes Oxley Act, increase penalties for involving people, greatly improve the illegal cost listing Corporations financial information distortion. The Sarbanes Act issued more than ten years, American Enron then no Enron, Enron China is fell down after a Chinese listing Corporation, and the deception in accounting distortion illegal low cost has a great relationship, developed countries and regions, such as Hongkong USA punishment experience worth learning and reference.Through the analysis of "Wanfu graduate" case the punishment measures and the contrast with Hongkong "Hontex" case and America Enron Corp fraud after the discovery, raise the illegal cost listing Corporation of tne distortion of accounting information is the key to solve the problem of accounting information distortion. In this paper, according to the principle of the rule of law, the principle of rational agent, investor protection principle and scientific principle of prevention, proposed by improving the listing Corporation, the company executives, intermediary agencies and related personnel illegal cost accounting information distortion to effectively solve the problem of distortion of accounting information of listing Corporation. The proposal to increase efforts to listing Corporation, economic punishment ordered to withdraw from the market compensation for losses, industry practitioners qualification, investigated the effects of large shareholders to take responsibility; increase fines, the abolition of capital of industry practitioners involved intermediary advice; the personnel recommended to increase penalties, expand the scope of penalties, cancel qualification.Today’s punishment is in order to develop a better tomorrow, hope that through improve the illegal cost, can effectively solve the problem of accounting information distortion of the listing Corporation, let "Wanfu graduate" this piece of the history of the most stringent ticket becomes in the history the final ticket.