Analysis Of The Role Of Block Chain Technology In Preventing Financial Fraud Of Listed Companies

One of the essential conditions to ensure the healthy and smooth operation of the stock market is that the financial information issued by listed companies must meet the requirements of timeliness,authenticity,accuracy and effectiveness.However,in recent years,the financial fraud of listed companies in China has occurred repeatedly.These financial fraud scandals are mainly caused by the asymmetric information between investors and managers,the imbalance in the internal governance of the company,and the weak independence of the audit of certified public accountants.How to solve these problems efficiently has become an urgent problem for listed companies in China.At this time,block chain technology stands out because of its "decentralization",distributed social account books,cryptographic algorithms,and high transparency of information,these functions of the block chain coincide with some of the techniques needed to tackle the financial fraud problem.Therefore,the birth of block chain technology will inevitably have a great impact on the financial fraud of listed companies in China.In recent years,the hot topic of block chain technology has attracted much attention from all walks of life.Domestic and foreign scholars have also done a lot of relevant research,involving the application and development of block chain technology in various sectors of society.But with regard to the application of block chain technology in the accounting industry,most of the current research focuses on the prospect of the disruptive impact of the technology on the whole accounting field at the macro level.However,there is little research on the application of block chain technology to solve a specific problem in accounting industry and its practical significance.The focus of this paper is to solve the problem of financial fraud of listed companies,which hinders the healthy development of the stock market,and puts forward an innovative solution based on block chain technology.This paper analyzes the current financial fraud situation of listed companies in China by studying the A-share listed companies that have been punished by the relevant departments such as the CSRC during the three years from 2015 to 2017 because of the existence of financial fraud violations.Then through the comparison and induction of the main reasons for its further study.This paper analyzes the positive influence of block chain technology on solving the financial fraud problem of listed companies,and explores the rationality and feasibility of applying block chain technology to solve the financial fraud problem of listed companies,hoping to provide some theoretical basis for the application of block chain technology in the field of accounting,especially in ensuring the timeliness,authenticity,accuracy and effectiveness of financial information,it also makes some contribution to solving the problem of financial fraud of listed companies in China.