Research On Enterprise Financial Fraud Based On GONE Theory

The phenomenon of enterprise financial fraud is still showing a high growth trend with the development of Chinese security market.In this paper,a case study of XTEC,which was forced to withdraw from the security market because of fraudulent issuance in 2016,was carried out from the perspective of GONE theory.Firstly,this paper summarizes the literature review of the current domestic and foreign academic circles on the identification signals,means,factors and prevention measures of financial fraud.On the basis of defining the concept of financial fraud,this paper introduces the GONE theory,iceberg theory,fraud triangle theory and the theory of fraud risk factor.Through the comparison between GONE theory and other theories of fraud motivation,the author holds that GONE theory is a relatively mature and perfect theoretical basis,and as a theoretical basis for supporting the writing of the article.Through the whole process of reviewing XTEC events,the consequence related to punishment,a detailed analysis of the implementation of financial fraud means XTEC,namely through its own funds in circulation,external borrowing and self-made bank documents,in order to solve the balance of accounts receivable is too large,the net operating cash the problem is negative.On this basis,based on the GONE theoretical perspective from Greed,Need,Opportunity and Exposure,further summarizes the agent of implementation of financial fraud.The low level of honesty and morality,excessive pursuit of the acquisition of additional interests of illegal is called greed.There are two urgent needs,which are faced with XTEC,listing and licensing.XTEC utilizes the internal opportunities created by non-standard corporate governance and internal control of the major shortcomings,the external opportunities created by the external auditors and the failure of the recommendation agency to conduct a careful verification.In the consideration of the implicit income of fraud is sufficient to make up for the cost of fraud,XIEC carries out financial fraud at the risk of exposing and finally finally embarked on the road to the delisting of the road.Finally,based on the four factors of GONE theory,the paper puts forward some effective measures to prevent and control financial fraud-Mainly include the suppression of greed psychology,strengthen the construction of good faith;weakening the harmful need to promote the healthy development of enterprises;reducing fraud opportunities,improve internal and external oversight;increasing the exposure risk,increase the cost of enterprise financial fraud,improve relevant laws and regulations.Constructing a long-term mechanism,causes it not to be able to fraud,be easy to fraud and dare to fraud.On the XTEC events in-depth study can play a great deterrent effect to the relevant enterprises,ensuring the scientific operation of the capital market,improving the efficiency of government regulation and investor protection mechanism,constructing harmonious economic environment.