Research On The Civil Compensation Caused By False Statement Of Financial Report Of Listed Company—Taking Shenzhen Hirisun Technology Incorporated As An Example

False statements have always been the most common illegal acts of securities in domestic security market,and protecting the interests of investors,especially the medium and small-scale investors is the main objective of legislation and implementation.In the civil compensation cases caused by false statements,there are great progress in maintaining the rights.For example,Hirisun case made innovative practices in compensation philosophy,technology implementation,the compensation amount calculation,especially its explicit compensation plan and coping measures that aimed to achieve the purpose of legislation,that is,to curb violation of law,and to protect investors.The essay mainly illustrated the theory and casual relationship of civil compensation for false statements,explored the definition and ways of false statements,the nature and identification of civil compensation.Besides,the case study of Shenzhen Hirisun Technology Incorporated not only interpreted the ways and reasons adopted in false statements,but deeply analyzed compensation scope and the calculating method of compensation amount for false statements.The judicial interpretation and related legal theory were applied.The essay made attempt over the ought approach,and raised the suggestions against false statements.The essay made some research and discussion over above content from the following parts.Firstly,the introduction part illustrated the background and significance of the topic,and made literature review over the domestic and foreign research,and raised some research ideas,approaches and the structure.Secondly,the essay made some summary over the basic theory of civil compensation responsibility for false statements of listed companies,including the concept,expression ways,the nature and the casual relationship.Thirdly,the essay analyzed the false statements of Hirisun Technology Incorporated.In order to meet the listing requirements,the company made a series of financial fraud,including false written-down of accounts receivable,long-term payments for accounts receivable,delay in confirming the cost.The essay analyzed the reason for financial fraud,involving satisfying listing conditions,lack of internal control,loose external supervision,and low illegal cost,light penalties.Fourthly,the essay analyzed the compensation for civil compensation responsibility borne by Hirisun,and raised some legal theory and ought design.The compensation in Hirisun Technology Incorporated was made according to Judicial Interpretation of False Statements,but there is a more wider mode of timely and efficient compensation for suffered investors from false statements beyond judicial procedures.The compensation yet is to be improved according to the securities legislation and judicial interpretations.The multiple false statements in the same case should be segregated to make them correspondent;at the same time,if there is "squeezing toothpaste" case in false statements,each disclosure date or correction date should be independent to form multiple compensation ways for the protection of investors' interests.Finally,the essay raised some suggestions against the civil compensation responsibility for false statements.Firstly,improve the financial report quality guarantee system,including improve the technical abilities of producing accounting information,optimizing the configuration of accounting practitioners,strengthening the management of accounting information producing.Secondly,establish sound civil compensation guarantee system in order to set up special loss compensation fund and implement compulsory liability insurance system of false statements.In this way,the operation risks brought by huge civil compensation could be reduced to the minimum,the actual loss of investors could be compensated,and the capital market could develop steadily.