Case Study On Financial Fraud During The Backdoor Listing Of Nine Top Group

The success of backdoor listing can enable backdoor companies to gain the status of listed companies,thus promoting the further development of backdoor companies.It can also enable backdoor companies to obtain high-quality resources of backdoor companies in this project,thus improving the business conditions of enterprises and enhancing the profitability of enterprises.In addition,compared with IPO,backdoor listing has the advantages of high success rate,low cost and simple procedures,which makes large and medium-sized enterprises unwilling to obtain the qualification of IPO listing after a long and complex approval flourish.However,those enterprises that have never met the approval requirements are desperate in the face of the huge interests of listing and rely on financial fraud to gain listing status.For example,in 2017,the financial fraud case of backdoor listing led by Nine Top Group and participated by intermediaries such as Reanda Certified Public Accountants once broke people's circle of friends because of its wide range of fraud,new means and far-reaching influence.This paper chooses and analyses the "Nine Top Group Financial Fraud Case",based on the empirical research it embeds the fraud risk factors into the analytic hierarchy process,and constructs the evaluation system of the financial fraud risk factors in the backdoor listing of Nine Top Group.Through the study of this evaluation system,it is found that under the negative tone of enterprise management,the excessive demand for financing can easily lead to financial fraud of backdoor listing.The strength of internal control,the degree of due diligence of relevant intermediaries,regulatory environment and punishment will also have an impact on financial fraud.Therefore,in terms of countermeasures,the author believes that enterprises should pay attention to the integrity of backdoor management,and improve the internal control system,strengthen the control and supervision function of internal audit;intermediaries should improve their professional prudence and professional competence;the government should improve the delisting system,strengthen the accountability and supervision of related persons.