The Case Analysis Of Wanjiang Logistics' Irregular Accounting Information Disclosure

Since the 21 st century,our country's capital market has grown steadily and has made some progress.However,compared with the capital markets of developed countries,there are still many flaws.Among them,the disclosure of accounting information of listed companies needs to be highly valued.This is also a hot topic recently discussed in the academic circles.At present,our country's information disclosure system has been established for a short period of time,and it is still in a stage of constant development and improvement.Although a series of laws have been issued successively to crack down on information disclosure violations,they have not been effectively banned.Obviously,there are many worrisome problems in the disclosure of accounting information,such as the company's failure to disclose information in a timely manner,or disclosure of information containing false statements and insider trading.There are a variety of reasons why listed companies risk illegal operation and perform illegal operations.From the perspective of internal perspective analysis,the internal control system and governance structure of the enterprise are imperfect.From the perspective of external perspectives,government regulators and accounting firms have not done their due diligence,and their supervision and enforcement capabilities need to be improved.On the basis of the reference to a large number of information disclosure violations,the article thoroughly studied the major events in the 2015 of Wanjiang logistics accounting information disclosure violations,further analyzed the causes of the violations and the economic consequences,and put forward relevant rationalization proposals to prevent accounting information disclosure violations,which to a certain extent,is conducive to regulating the order of the capital market.With the rapid development of the economy,some companies,for the sake of temporary interests,concealed their business risks and willingly engage in information disclosure irregularities at the expense of their own reputation.This will inevitably bring about adverse effects on the company's business development.However,the existing scholars have few case studies on accounting information disclosure violations.The combination of the article with specific cases to discuss this topic is of great practical significance.First of all,based on the formation process of information disclosure system in the United Kingdom and the United States,the article summarizes the regulatory laws and regulations established in China's capital market,focusing on the “Company Law” and the “Securities Law” and providing related concepts of information disclosure violations.The disclosure of irregularities in accounting information is characterized by four aspects that are not timely,unrealistic,inadequate and non-standard.The main types of information disclosure violations include false statements and delayed disclosure.The false statements can be subdivided into false records,misleading statements and major omissions.At the same time,it also listed some methods of information disclosure violations.In addition,the article analyzes the fraud triangle theory,the stakeholder theory and the information asymmetry theory,and integrates the theory into real cases,laying the foundation for the analysis of accounting information disclosure violation cases.Secondly,this article takes the Wanjiang logistics accounting information disclosure violations as an example,and has a deep analysis of the case's reasons and consequence.This article firstly introduces the basic situation of Wanjiang logistics and then explains the case of Wanjiang logistics violation from the facts of non-compliance and the result of non-compliance.Then,this article makes a concrete analysis on the motivation of Wanjiang logistics accounting information disclosure violation,the analysis mainly from the internal and external perspectives,the internal reasons include the unreasonable economic strategic objectives and guarantee system,the lack of effective management of subsidiaries,the block of information communication and the imperfect corporate governance structure;external reasons include two parts,one part is the lack of independence of accounting firms,the other part is supervision by regulators not in place and the punishment being light.Then,based on the analysis of the causes,the economic consequences of the violation of information disclosure are discussed from three aspects: the management consequence,the management change and the market consequences.Finally,based on the analysis of the case of Wanjiang logistics information disclosure violations,the author concludes relevant conclusions.First,the main reason for accounting information disclosure violations lies in the fact that internal controls are inexplicable and managers are tempted by benefits.Second,the company's imperfect governance structure has resulted in the loss of the interests of small and medium shareholders.Third,the lack of independence of CPA seriously affects the quality of information disclosure.Fourth,the lack of supervision by external regulatory agencies and the low degree of punishment lead to low costs of non-compliance.In addition to the analysis and discussion of a series of conclusions,the article draws relevant revelations accordingly.First,improving the internal environment and the relevant systems for external guarantees.Second,improving the governance mechanism of the board of directors and the board of supervisors,and establishing a sound civil compensation system.Third,establishing an innovative audit system and striving to improve the CPA's professional competence.Fourth,increasing the punishment for violations of information disclosure and gradually improving the public supervision mechanism.