Research On Accounting Information Disclosure Violation Of Xiamen Savings Co.,Ltd.

As an integral part of the socialist market economy,the capital market is closely related to China's economic development.Ensuring the long-term stability of the capital market can not only promote economic development,but also promote the formation of a stable and better development situation for the entire country.At present,our country is in the crucial period of building a well-off society and the key period of economic transformation and upgrading.At the same time,we are also facing the impact of the sudden epidemic on the economy and society.In this case,ensuring the stable development of the capital market is particularly important.In the capital market,accounting information acts as a link between investors and listed companies.The role of accounting information as a basis for investor decision-making cannot be underestimated.Standardized accounting information disclosure can timely,accurately,and comprehensively transfer important information such as the operating results,financial status,and cash flow of listed companies to information users,thereby helping them make scientific decisions.On the contrary,if the information users fail to obtain the required accounting information in a timely,accurate and comprehensive manner,it will lead to wrong decisions.Therefore,we must ensure the quality of accounting information disclosure and maintain the long-term stable development of the capital market.However,as far as the current situation is concerned,the disclosure of accounting information in China's capital market needs to be improved,and the disclosure of accounting information by listed companies frequently violates regulations.Therefore,it is necessary for us to investigate the cause of the violation of accounting information disclosure and provide corresponding solutions.Xiamen Savings Environmental Co.,Ltd.(now renamed Xiamen Zhongchuang Environmental Technology Co.,Ltd.)was established in 2001.It is a company specializing in the manufacture of special equipment.In 2010,the company successfully landed on the GEM of the Shenzhen Stock Exchange,becoming the first domestic high-temperature bag filter dust removal listed company.Subsequently,the company expanded its business area through acquisitions and new subsidiaries,and gradually developed.In the initial stage of listing,the quality of accounting information disclosure of Savings Co.,Ltd.has remained at a relatively stable level.However,from 2016 to 2019,the company's accounting information disclosure has repeatedly violated regulations,and has therefore been subject to administrative sanctions by the Xiamen Securities Regulatory Commission and the Shenzhen Stock Exchange's GEM company management department.This article selects Xiamen Savings Environmental Co.,Ltd.as a case to analyze the specifics of violations of its accounting information disclosure.In order to better analyze,this paper has sorted out relevant documents about accounting information disclosure,corporate governance,internal control,and external supervision at China and abroad.On this basis,this article analyzes the case by combining the case analysis method and the literature analysis method starting from the principal-agent theory,information asymmetry theory,corporate governance theory and GONE theory.Firstly,this article divides Savings Co.,Ltd.accounting information disclosure violations into four parts: related party transactions,investment income confirmation,income confirmation,periodic report disclosures.It also Summarized the negative impact of violations of accounting information disclosure on society,investors and the company itself.Secondly,this article analyzes the motivations and causes of the violation of information disclosure,and finds the four causes of the irrational corporate governance structure,the failure of the internal control system,the failure of intermediary agencies,and the lack of external supervision.Finally,for the causes of this,this article gives practical solutions from four aspects: corporate governance,internal control,intermediary agencies,and external supervision.