外文翻译上市公司财务舞弊原因及对策.doc

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1、Reasons and countermeasures of listed companies financial fraudPick to: financial fraud accompanied by Chinas reform and opening process and continuous development, bring social harm is more and more apparent, whether to financial fraud effective management by the peoples widespread concern. On the

2、listed companys financial fraud concepts and methods were summarized, from the interest drive, corporate governance, accounting personnel occupation moral standards, accounting and auditing system, in-depth analysis of the causes of financial fraud, and in view of the above reasons put forward the c

3、orresponding control measures Key words: financial fraud; reasons; control countermeasures; listed companyIntroductionSince the beginning of Enron in late 2001, cases of financial fraud in listed companies at home and abroad frequently burst out. In early 2006, the Shanghai national accounting Insti

4、tute Research Center for financial fraud (snaiFFRC) disclosed to kelong headed by the 2005 top ten most fraudulent financial companies of the listed companies means is more amazing the financial fraud of smart. Self, circulating trading, trading of yin and Yang, the packing channels, always accounti

5、ng errors, large bath, mergers and acquisitions, restructuring, concealed stocks, the report cash traps, this is a top ten listing companies financial fraud trick.One, the concept of financial fraud and way Financial fraud is the subject of false financial information processing in accounting and re

6、porting process, to obtain undue economic interests, used deceptive means to intentionally lied about the importance and financial facts of violations of laws and substantive violations. Financial fraud has four characteristics: unlawful, intentional sexuality, danger, and concealment. Specific mean

7、s of financial fraud can be said to be endless, but the core is intact. Income fraud including fictitious earnings and revenue across periods; cost of fraud including cross-phase meter cost less and adjustment costs as well as costs of capital; corrupt cash fraud, should be the project assets, such

8、as fraud, less provision for impairment; liabilities are generally less-total liabilities of fraud. Financial fraud means basically has the following several aspects:1. the use of improper accounting policies and accounting fraud. Management typically use intertemporal amortization class accounts fo

9、r many share, share more, less or less cost to adjust profit. (1) the selection of inappropriate borrowing costs accounting method. In practice, many listed company through misuse of borrowing costs accounting, in build a project completed and not the final. (2) improper selection of equity investme

10、nt accounting methods. Principles of enterprise accounting regulations: investment enterprises of joint control or significant influence, should adopt equity method; instead, it uses the cost method.But many companies use, when the investee company profit, should not use the equity method investment

11、 using the equity method of accounting; when the investee company loss, the equity method to the cost method . (3) improper selection of merging policy. (4) the improper selection of depreciation method. Extended depreciation, by accelerating method is changed into the straight line method, in pract

12、ice it is often seen. (5) the improper selection of income, cost confirmation method. Advance or delay the confirmation of income or expense is also listed companies generally adopt cheating. (6) the improper selection of the impairment provision method.2. use of enterprise internal control system d

13、efects and the weak link of fraud. As the cashier personnel use enterprise blank check, financial dedicated seal, legal person seal does not separate keeping malpractice, privately issued checks, misappropriation of public funds. Cozy with his duties incompatible staff collude with a fraud.3.related

14、 party transaction fraud. The related party transaction fraud, refers to the management using the related party transaction to hide losses, fictitious profits, and not in the statements and notes in accordance with the provisions as appropriate, full disclosure, the resulting information will have o

15、n the users of financial statements misleading a fraud method. Typically, Chinese listed companies using the purchase and sale of related fraud, fraud, entrusted with the operation of funds embezzlement, fraud and other four kinds of cost sharing related transactions by way of fictitious profit.4. t

16、he assets of fraud. Asset restructuring, mergers and acquisitions, debt restructuring, asset replacement form, occurring between the related parties. Assets reorganization of corrupt corrupt corrupt major mergers and acquisitions and debt restructuring in two ways. 5. cover up fraud transaction or f

17、act. Hide transaction or fact of fraud is through the use of accounting statements to hide transactions of listed companies or the truth, or has not been fully disclosed in the notes to the report deals truth an fraud methods.Second, the causes of listed companies financial malpractice Listed compan

18、ies financial malpractice caused several of the following reasons: 1. financial return far greater than the cost of fraud. To meet listing standards at some companies desperate to find ways to make financial fraud, and fraud, to meet the policy requirements. In addition, because the share price is t

19、imes the income and earnings per share, and high stock market price/earnings ratio of deformity in China, so the main purpose of listed companys financial fraud is false profits. False profits of $ 1, the circulation market value of listed companies will increase 10 times times times. Relative to th

20、e fraud fraud income, cost is too low, from a certain extent, it is too low a fraud cost contributed some fraud. 2. corporate governance structure is not perfect. Corporate governance structure is in fact about between owners, the Board of Directors and senior executive officers rights assigned and

21、the arrangement of a system of checks and balances, the reality in China, led directly to the equity structure of listed companies malformations include the general meeting of shareholders, Board of Directors, Board of supervisors, which distort the relationship between corporate governance structur

22、e of checks and balances, which has provided an opportunity for financial fraud in listed companies. This is mainly manifested in the following aspects: (1) the ownership structure is not reasonable. As of the second half of 2006, the Shanghai and Shenzhen stock market, shares of over 50 listed comp

23、anies only 185, largest shareholder holding ratio of no more than 25 and only 219, 6070 listed companies have invaded and occupied by large shareholders of listed companys funds. In the case of high concentration of ownership, possibilities of treatment failure of listed companies increased, listed

24、companies, the greater possibility of financial fraud. (2) the independence of the Board is not strong, internal control is a serious problem. China listed company Director served as Senior Manager of the phenomenon is more prevalent, Director serves as the Senior Manager (internal control) more tha

25、n 50 per cent of the sample company 32, more than 30 per cent of a sample of 65 companies. In this case, the operation of the Board is usually Insider or shareholder control, rather than based on the collective interest. This has led to the phenomenon of frequent corporate financial fraud. (3) the S

26、upervisory Board weakening the oversight function, financial report difficulty in discharging its oversight functions. Based on analysis of listed company financial reporting fraud, Board of supervisors system in suppression of financial fraud in China did not play a role of Directors and managers o

27、f monitoring. Listed companies are required by law to set up a supervisory board, Board of supervisors actually are in a very awkward position, lower right or upper right of vulnerable rights of supervision or stronger right.3. accounting staff lack of professional ethics. Finance and accounting per

28、sonnel who are directly involved in financial fraud, from the macro perspective, is mainly long term and not enough on accounting ethics education, lack of accounting professional standards; micro-perspective, strong sense of company accountants law, in order to meet company leaders of unhealthy psy

29、chological, thus violating the ethics of being practical and realistic, objective and fair. In addition, individuals driven by economic interests, has also led to some accountants deliberately forged, altered, hiding and destroyed the accounting information, taking advantage of his position of finan

30、cial fraud. 4. accounting and audit system is not sound. In recent years, although China is making a lot of accounting and auditing legislation, but from the practical point of view are not perfect and sound. Poor operability of some provisions, resulting in accounting fraud an opportunity. New acco

31、unting law legal responsibility chapter referred to serious, criminal, significant losses are not quantified, has no specific explanation. 2006 implementation of new accounting standards, provided more accounting options for management, which provides management with more profit opportunities. In ad

32、dition, lack of punishment measures, social supervision is not strong, quality performance evaluation of accounting does not work, no ability to detect fraud, also can lead to occurrence of listed companies financial malpractice.Third, the governance of listed companiesfinancial fraud countermeasure

33、s1. coordinating the relationship between benefits and costs of financial fraud. We should increase the penalties for financial fraud, financial fraud costs more than it gains, so you can basically stop financial fraud. At the same time, in charge of financial malpractice should bear unlimited joint

34、 and several financial responsibility, which can to a large extent, inhibit their impulses of illegal counterfeiting. For those who dare to report the accounting officer shall provide ample rewards, so that its behavior is greater than the loss of income to report financial fraud. In this way, finan

35、cial malpractice liability and they will take the initiative to give up the idea of financial fraud. 2. perfect the corporate governance structure. Improve the internal governance structure of the company, is to prevent financial fraud, improve the quality of accounting information. (1) to improve t

36、he companys ownership structure, can solve the status of minority shareholders and the controlling shareholder is not symmetric. (2) the perfection of listed companys Board. In the establishment of external independent directors on the Board of the company, and provides that a certain proportion of

37、the external independent directors, and established a number of specialized committees, raise the level of professionalization of the Board, to play the role of the Board. (3) improvement Board of supervisors of listed companies. As the Board of supervisors a mere formality, only to stand in the gov

38、ernance structure of the company, to further improve the system of Board of supervisors.3. raising the level of professional ethics of accountants. State management and accounting departments, should continuously strengthen the ideological education of accountants and accounting staff levels continu

39、e to improve, making it able to consciously resist financial malpractice, gradually establishing accounting integrity and fair image. 4. accounting and auditing systems. Accounting standards and the flexibility of the system is the important basis for financial fraud to achieve. First of all, accord

40、ing to Chinas actual conditions, principles of system of accounting standards and make appropriate adjustments, in general lack of ethical culture in China now, improving the reliability of the accounting report is the key. Second, correctly handle the relationship between consistency and flexibilit

41、y, reducing the options available to the company within the scope of accounting system as much as possible, especially when it comes to income and expenses recognized measuring principle, the depreciation of fixed assets, eight-asset impairment provision ratio and maximum detailed provisions should

42、be made. Introduce specific implementation details will be quantitative and specific legal responsibility to explain, this has the advantage of parties a clear financial consequences of fraud, also in favour of the relevant departments to determine the financial fraud and punishable by appropriate p

43、enalties. Finally, give full play to the role of public opinion and the media. As the perfection of the securities market, market supervision is not limited to certified public accountants and the Government, the general public and the media has also been involved in the regulatory process.The endAt

44、 present, China is in an early stage of market economy, all kinds of deceptive behaviors emerge, accounting activity as a measure of economic activity, inevitably financial fraud. Financial fraud is not only an economic phenomenon, is also a visualization of the deep moral conviction. So, on the gov

45、ernance of financial fraud is a systems engineering, business, community and government supervision of Trinity system is required in all departments and make concerted efforts, coordinate with each other. Only an integrated approach to governance, to create good information environment for Chinas ec

46、onomic development. Reference.1 Hou Yanlei, Zhai Yingmin. The financial fraud of listed companies analysis J. Economy and management,2006, (7):71-73.2 Huang Xinjian . Chinese listed companys financial fraud and the Countermeasures Research J. Economic survey,2006, (4):77-79.3 Wang Jianxin. The finan

47、cial fraud of listed companies : motives and management J . Market modernization,2008, (2):346-347.4 Yang Yunshu . The financial fraud of listed companies analysis J . Accounting research,2006, (5):62-63.5You Xiaofeng. Chinese Research on financial governance of Listed Companies M. Beijing: Economic

48、 Science Press,2005: 144-145.6 Zhang Aimin. The combination of internal and external, prevention of financial fraud of Listed Companies J. Contemporary economy,2006, (2):18-19.7Hong Ge. Fraud in financial reports of listed companies governance approach J. Economic review,2005, (9):117-137.8Wang Haix

49、ia. Internal governance structure in listed companies and the prevention of financial fraud J. Auditing & Finance,2005, (7):23-24.上市公司财务舞弊原因及对策摘 要：财务舞弊行为伴随着中国改革开放的进程而不断演进发展，带给社会的危害也愈来愈明显，能否对财务舞弊行为进行切实有效地治理受到人们的普遍关注。对上市公司财务舞弊行为的概念和方式进行了归纳，从利益驱动、公司治理机制、财会人员职业道德水平、会计和审计制度等方面深入分析财务舞弊的成因，并且针对以上成因提出了相应的治理措施。 关键词：财务舞弊；原因；治理对策；上市公司引言2001 年末的安然事件以来，国内外上市公司财务舞弊案件频繁爆出。2006 年初，上海国家会计学院财务舞弊研究中心（sna