Research On The Motivation And Economic Consequences Of Financial Fraud Of SHEN XIAN YUAN

With the prosperity and development of China's economy,the supply-side structural reform is being promoted and deepening,and industrial structure is being continuously adjusted and optimized.China's innovation-driven consciousness continues to strengthen,and many small and medium-sized enterprises in China which are innovative and entrepreneurial have chosen to be listed on the new three board(NEEQ,National Equities Exchange and Quotations).As the number of the new three board listed enterprises increases year by year,financial fraud problems also begin to appear in the new three board market.In the past,financial fraud cases in the main board market were in the majority.The new three board has short history,but it also starts to burst out financial fraud one after another,which has attracted extensive attention from the society.The financial fraud which has been discovered may only be the tip of the iceberg.There are still several companies that have been questioned about financial fraud,and there may exists cases where fraud has not been discovered.It can be seen that the problem of financial fraud is not only the focus of the accounting community,but also an urgent matter to be solved in the economic development.Agricultural enterprises has been high incidence of financial fraud,moreover,the access conditions of new three board is not strict,and censorship is relatively loose.The quality of enterprise is uneven,and the internal control system is not perfect,which provide opportunities for financial fraud in agricultural enterprise.The certified public accountants' audit experience of agriculture is insufficient,and the auditors also lack professional knowledge of agriculture,which directly increases the certified public accountants' audit risk,and reduce the possibility that morefinancial fraud are left to be found.All sorts of factors may give agriculture enterprise finance fraud opportunities.Therefore,targeted analysis of financial fraud of the new three board agricultural enterprises can help the healthy development of agricultural enterprises,facilitate the process of agricultural modernization,and be more conducive to the healthy,sustainable and stable development of the new three board market.This article starts with the first case of financial fraud of agricultural enterprises in the new three board of China,exploring the motivation and economic consequences of financial fraud in SHEN XIAN YUAN Co.,LTD.Based on the risk factor theory,in combination with the characteristics of the agricultural industry,starting from the individual risk factors and the general risk factors,this article analyzes the lack of morality of the managers of SHEN XIAN YUAN,the high pressure of debt,the low profitability,the unsound internal and external systems,the difficulty in identifying financial fraud,and the light punishment for fraud.Moreover,through the special risk factors under the national conditions of our country,such as weak risk awareness of farmers,loose review of policy object and narrow view of local achievements,to analyze the deep-seated motivation of financial fraud in agricultural enterprises.Then,through the influence of SHEN XIAN YUAN financial fraud to study the economic consequences.Financial fraud will not only damage the reputation and hinder the development of the company,but also inevitably affect all stakeholders.Financial fraud will affect the judgment of financial report users on the company's operating conditions and investment value,leading them to make wrong decisions and even cause serious losses.In addition,it will also affect the resource allocation of the capital market.If the resource mismatch occurs,it will affect the capital flow,which will seriously restrict the healthy development of the market economy.Referring to and drawing lessons from relevant experience of the agricultural industry and the governance of financial fraud from other countries,this article puts forward some targeted suggestions for the governance of financial fraud in agricultural enterprises.Especially combined with the special situation of our country,this article puts forward referential management countermeasures for our agricultural enterprises.We should improve laws,regulations,related systems and strengthen oversight of agricultural enterprises and the new three board market.Agricultural enterprises should improve the internal governance structure and improve the quality of the managers.The managers should gather scientific management experience.The agricultural industry should be encouraged to go out of the traditional line and have the courage to innovate.Agricultural enterprises should be supported,at the same time,we should improve the achievement index and achievement view.All parties should pay more attention to the financial fraud of agricultural enterprises,and give some support to agricultural enterprises based on the market,accelerating the process of agricultural modernization,at the same time ensure the sound and orderly development of China's market economy.