The Research On Financial Fraud Of Yabaite's Overseas Projects

During 2015 and 2016,Yabaite achieved the goal of false revenues,fictitious profits and whitewashing financial statements by forging the programme of Pakistan overseas projects and fictitious overseas trade.Which make a huge damage to the interests of investors and the whole society.As far as we can see,China started late than western countries in overseas investment.Due to the lack of experiences and inadequate supervision systems,it's harder for related supervision to adapt to the company's accelerating pace of investment.Overseas projects have the characteristics of low cost of fraud,difficulty of monitoring by audit institutions,and difficulty in verification by the Securities Regulatory Commission,so cross-border fraud has become the preferred target for some listed companies to gloss over financial statements.Under the background of the rapid expansion of overseas investment by Chinese enterprises,the research on Yabaite's overseas project fraud cases and the analysis of Yabaite's means of cross-border financial fraud play a vital role in making suggestions on improving China's overseas project supervision system are of great significance.This article get the research conclusion by analyzing the fraud of Yabaite.The author used the Yabaite Annual Report as a data base and the GONE theory to analyze the causes of YBT's financial fraud.YBT used the three methods of fictional overseas projects,fictitious international trade,and forged capital flow to conduct financial frauds,thereby raising The prevention of financial fraud is based on the cross-border supervision of overseas projects by enterprises,the establishment of domestic and foreign information transmission channels,the strengthening of supervision of intermediary service agencies,the strengthening of penalties for illegal companies and institutions,and the improvement of internal corporate governance structures.