A Study On The Causes And Governance Of Financial Fraud Of RuiXing Coffee Based On Risk Factor Theory

With the rapid development of the capital market,there have been numerous incidents of financial fraud at home and abroad,which have caused significant benefit losses to investors and jeopardized the healthy development of the market economy.With the booming development of the Internet economy,a number of Internet retail enterprises have emerged in the market,and the new retail business model owned by them,as an important subject of the market,has also drawn the attention of the academic community.Based on the dual background of building a healthy and orderly capital market and the risk of financial fraud faced by new retail enterprises,it is of great theoretical and practical significance to analyze the occurrence mechanism of financial fraud in new retail listed companies and to build a targeted financial regulatory system with Chinese characteristics.This paper takes Rui Xing Coffee as the research object,and uses a combination of literature and statistical analysis to sort out and analyze the financial fraud of Rui Xing Coffee,analyze its fraudulent means and its impact on other Chinese companies and investors,and apply the fraud risk factor theory to analyze the causes of Rui Xing Coffee’s financial fraud in terms of moral quality,motivation,opportunity,possibility of exposure and the degree of punishment faced.From the internal perspective,in terms of corporate governance and internal control,it is necessary to rationalize the shareholding structure,standardize the decision-making mechanism and improve the internal control system;from the combination of fraud event hazards and the current business recovery,it can be seen that the relationship between capital expansion and sound operation should be coordinated and the business model defects should be overcome;promote the integration of industry and finance and financial supervision and exchange;and accelerate the construction of corporate integrity system.From the perspective of external regulation,auditors should understand the industry environment,pay attention to the business model,and use information technology to identify fraudulent behaviors;the country should continue to deepen in the improvement of the domestic regulatory system and the strength of punishment,and should also work to promote cross-border regulatory cooperation.The Rui Xing Coffee incident reveals that listed companies should deal with the relationship between capital expansion and sound operation,and continuously promote the high-quality development of listed companies.