Case Analysis Of Financial Fraud In Wanjiang Logistics Based On Fraud Triangle Theory

China's securities market is in a period of vigorous development as an emerging market.But in recent years,financial fraud cases were common,not only listed companies on the main board participated in financial fraud,such as Yin Guangxia,Zixin Pharmaceutical and Green Earth,but also GEM companies,such as Wanfu Shengke,defraud listing qualifications by whitewashing financial statements.From January 2001 to December 2018,China Securities Regulatory Commission(CSRC)have made 1164 administrative penalty decisions and 234 market ban decisions.It can be seen that there are still many illegal acts in the securities market,so it is very important to regulate the order of the securities market and safeguard the legitimate interests of small and medium-sized investors.Wanjiang Logistics increased its profit by 256 million yuan in 2012,229 million yuan in 2013,and 9.155 billion yuan in revenue in these two years.Because of the huge amount involved,it deserves attention.Firstly,this paper introduces the theoretical basis related to financial fraud,including the concept of financial fraud and the theory related to the motivation of financial fraud.Then it reviews the case of financial fraud in Wanjiang Logistics,and analyses the methods of financial fraud in Wanjiang Logistics,including fictitious circular transaction,less provision for bad debts,less discount charges,and signing black and white contracts to increase profits.Means of financial fraud in Wanjiang Logistics also include concealing significant external guarantee information in financial reports.Then it analyses the causes of fraud from three aspects: pressure,opportunity and excuse according to the fraud triangle theory.The next step is to analyze the harm of financial fraud in Wanjiang Logistics,including the harm to enterprise,stakeholders,accounting industry and social atmosphere.Finally,the measures to prevent and deal with financial fraud are put forward from the angles of alleviating fraud pressure,reducing fraud opportunities,improving employee attitudes and eliminating fraud excuses.It is hoped that through the analysis of the causes of financial fraud,we can improve the supervision measures of the securities market and provide a reliable place for investors to invest.