| Since the establishment of the NEEQ market in 2006,the overall development trend has been good.As of December 3 1,2019,the total number of enterprises listed on the NEEQ market was 8,953,divided into 32 industry categories and distributed in 16 Provincial administrative area.With the gradual development of the NEEQ market,the NEEQ companies have also been exposed to many financial fraud incidents.Shcn Xianyuan was issued an administrative penalty decision by the China Securities Regulatory Commission in 2016 due to financial fraud.This is the first fine issued by the NEEQ enterprises for financial fraud.The financial fraud of the NEEQ enterprises has also surfaced.Many companies such as Modern Agricultural Apparel and Yindu Media Co.,Ltd.have also been publicly punished by the CSRC.The NEEQ market is still relatively young,and it needs to pay more attention to the occurrence of financial fraud incidents,and in-depth study of the current financial fraud incidents,sum up the lessons and lcarn from the experience,in order to prevent the financial fraud incidents of the NEEQ enterprises.This article uses a combination of theoretical analysis and case analysis.The theoretical part uses the fraud triangle theory to analyze the financial fraud of Yindu Media Co.,Ltd.f rom three aspects:pressure,opportunity and excuse.From a pressure point of view,as a new third board company,Yindu Media Co.,Ltd.is facing financing pressure and market competition pressure brought by scale expansion;from an opportunity perspective,Yindu Media's internal control system is not perfect,and the audit agency Audits generally have the characteristics of low audit costs and inadequate implementation of audit procedures,which provides Yindu Media Co.,Ltd.with opportunities for financial fraud;from an excuse point of view,like other companies that conduct financial fraud,Yindu Media Co.,Ltd.believes that "I This is done for the good of the company and for the better development of the company." In terms of case analysis,this article takes the financial fraud of Yindu Media Co.,Ltd.as an example to study.Yindu Media Co.,Ltd.is a key enterprise supported by Wuhan New Third Board.After undergoing all-out development,it finally became the first company on the New Third Board.Companies that were forced to delist because of financial fraud.The amount of fraud is large,the means of fraud are large,and the punishment is relatively large,which is more representative in the new third edition market.Yindu Media Co.,Ltd.has conducted financial frauds for three consecutive years from 2014 to the first half of 2016.The fraudulent means are to artificially increase the main business income by forging fake purchase and sales contracts,undisclosed related party funds occupation,and falsely record related party relationships,thus To achieve the purpose of whitewashing financial reports,and ultimately achieve the goal of financing expansion.After Yindu Media Co.,Ltd.was exposed to a financial fraud case,the relevant regulatory agency investigated the incident and finally issued a warning to Yindu Media Co.,Ltd.and imposed a fine of 600,000 Yuan.13 people were fined 1.8 million Yuan.Based on this fact,this paper discusses the enlightenment of the case on preventing financial fraud from three aspects of other companies on the New Third Board,audit institutions and relevant regulatory agencies.For the NEEQ companies,it is necessary to balance the equity structure of the NEEQ companies and limit the voting rights of shareholders;for audit institutions,auditors should pay attention to the industry situation,not to reduce costs and damage the quality of the enterprise,and pay attention to the review procedures in the audit process.For regulatory agencies,it is necessary to shorten the time interval between the discovery of corporate financial fraud and the punishment;increase the punishment of financial fraud and improve the information disclosure of the New Third Board enterprises. |
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