Research On The Identification And Governance Of Yabaite Financial Fraud By External Supervision

The financial fraud enterprises represented by Wanfu biotechnology and Yunnan green-land biological technology co.,ltd have released false news to investors,which not only caused investors to suffer huge losses,but also disrupted the normal market order and hindered the steady and healthy development of China's capital market.Faced with the current situation of poor quality of information disclosure in some enterprises,it is even more important to ignore the power of external supervision while standardizing internal corporate governance.As the main body of external supervision,audit institutions,securities institutions,news media,CSRC and courts are an important part of identifying,governing and punishing false information disclosure of enterprises.This paper selects Jiangsu Yabaite Technology Co.,Ltd.as a research object for case study.With the theoretical support of relevant references,the external supervision is analyzed in the role and problems of the identification,governance and punishment of financial fraud incidents.The study found that media organizations and peers played an active role in the prior identification of the financial fraud of Yabaite.Before the CSRC officially opened the investigation,the media and peers released the signal that Yabate was suspected of financial fraud by questioning the company's financial statements and field investigations.As an independent auditing institution and securities institution,Zhonghua Certified Public Accountants and Jinyuan Securities are subject to their own independence and objective conditions of cross-border auditing,and have not effectively played a role in the identification of fraud signs.In the governance of financial fraud,the CSRC has fully played its due role as a statutory external supervisory body.After the SFC made a decision on the investigation,the entire market quickly gave a negative market reaction.In the after-the-fact punishment of financial fraud,the judicial organs represented by the courts imposed judicial punishment on the fraudulent acts of Yabaite,and the administrative organs represented by the CSRC imposed administrative penalties on Yabaite.Through the discussion and analysis of Yabait's major transnational financial fraud incidents,this paper finds the problems and deficiencies of external supervision in fraud identification,governance and punishment,and proposes corresponding solutions to the existing problems,in order to improve The external supervision effectiveness provides reference and reference.Enterprises.