| Financial fraud often occurs in China's capital market,and agricultural companies often suffer from financial fraud.The New Third Board has an important position in China's capital market.The number of companies in the New Third Board has grown at an alarming rate,from 156 in 2013 to 10,691 in 2018,but problems have occurred frequently.Due to the unique market environment of the New Third Board market and the characteristics of the agricultural industry itself,the agricultural companies listed on the New Third Board are prone to financial fraud.As the first case of financial fraud in the history of the New Third Board,the Shenxianyuan incident is the first case of fraud in the New Third Board Agricultural Company and has a high research value.Therefore,taking Shenxianyuan as an example,this paper analyzes the fraudulent motivation of Shenxianyuan with the most perfect fraud risk factor,and finds the general law of financial fraud of the new three-board agricultural company,and proposes corresponding suggestions for preventing financial fraud.Financial fraud occurs frequently in the capital market,so there are no mathematics contests relative to its research,but there are not many studies using the risk factor theory of fraud,and there is not much research on the financial fraud of agricultural companies in the New Third Board.The theory of fraud triangle is the basis of existing research cases.It pays more attention to the analysis of fraud methods.It does not analyze the causes of fraud.Finally,other literatures based on the theory of fraud risk factors ignore the regulatory environment and institutional defects of China's new three boards.Consideration.Therefore,this paper is based on the theory of fraud risk factors,taking Shenxianyuan financial fraud case as an example to expand existing research.This thesis is mainly to study the financial fraud of the new three-board agricultural company Shenxianyuan.The research uses the risk factor theory of fraud,and analyzes the five risk factors from moral quality,fraud motives,fraud opportunities,exposure possibilities and post-exposure punishment.The three-board agricultural company's financial fraud motives;then specific analysis of the case of Shenxianyuan financial fraud;finally,after comprehensive and specific analysis,the paper finally proposed targeted recommendations for the financial fraud phenomenon of the New Third Board Agricultural Company.According to the motivation analysis of the case of Shenxianyuan,it is found that the first is the contradiction between the company's financing pressure and the actual business performance.In addition,the manager's moral quality is not high,it is easy to generate financial fraud.Secondly,the corporate governance is imperfect and the internal supervision is lacking.And some system defects of the New Third Board have increased the probability of financial fraud.Finally,the lack of internal audit institutions and the lack of external third-party supervision,the specific attributes of agriculture have increased the difficulty of auditing,and the company's fraud was found to be punished.Light,there is no delisting punishment system,which ultimately led to financial fraud.In this regard,this paper believes that the company should improve the moral quality of the company's senior management and employees,improve the company,s shareholding structure,strengthen internal governance and internal control;the new three boards should establish a hierarchical information disclosure system,regulate voluntary disclosure obligations,improve the law Regulations,increase the accountability of fraudsters;accounting firms should improve the professional level and audit efficiency,focusing on the listed company's agricultural inventory projects and internal control,the sponsor brokers should do a good job of continuous supervision and improve the quality of practice.Only when we do a good job of targeted measures will it be possible to stop the financial fraud of the New Third Board Agricultural Company. |
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