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
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