Research On Financial Fraud Of Geeya Technology Co.,LTD

In recent years,there are a number of cases in the capital market for financial fraud in the IPO and in subsequent years,which have caused great harm to investors and the entire securities market.Such as the US Enron fraud case,the world communication fraud case,the waste management company fraud case,the global telecom fraud case,etc.;Japan’s Toshiba company financial fraud case;China’s Nanfang shares,Hailian News,Kunming Machine Tool,There are also countless cases of Ze cobalt nickel fraud.Therefore,it is especially important to analyze the consequences and impact of fraud in listed companies.This paper analyzes the financial fraud process,influence and countermeasures of Geeya Technology.On the basis of analyzing and analyzing the research results related to financial fraud at home and abroad,this paper intends to use Stakeholder theory and Systematological theory to analyze the effects of financial fraud on the company itself,investors,intermediaries and other aspects of the market;Then,reviewing the financial fraud cases of Geeya Technology,analyzing the various effects caused by financial fraud from Geeya Technology itself,investors,intermediaries and other aspects of the market: for Geeya Technology itself,through fraudulent means such as increasing business income and profits,Geeya Technology makes itself fluke in the short term and avoid delisting,hinders the long-term and stable development of Geeya Technology,exposes the fraud and makes the company’s stock price and market value fall sharply;for investors,Geeya Technology ’s financial fraud infringes on the company.Small and medium-sized investors’ right to know the true financial situation of the company has caused heavy losses to small and medium-sized investors;for intermediaries,Jinya Technological Financial Fraud has been exposed,intermediaries have been punished and forced to improve the audit quality;Geeya Technological Financial Fraud has increased the audit cost and risk of intermediaries due to the complexity and diversity of fraudulent means;for other aspects of the market,Geeya Technological Financial Fraud has increased the audit cost and risk of intermediaries.Claim cases have promoted judicial progress to a certain extent,strengthened the sense of responsibility of regulators and accounting firms and improved the audit quality of accounting firms to increase business income and business volume.Based on the impact of financial fraud,this paper puts forward policy recommendations to prevent and control financial fraud: on the prevention of financial fraud.firstly,listed companies should improve the company’s internal.Governance structure,improvement of internal audit system,establishment of a sound human resources system,and construction of a good corporate culture environment.Secondly,intermediaries should improve the professional competence of CPAs.Thirdly,government departments should improve the relevant regulatory measures and increase the effectiveness of government supervision.As for the management of financial fraud,the first is to improve the investor-related investment quality.The second is to improve the system of civil compensation for financial fraud to investors.The securities regulatory agencies and relevant judicial departments should strictly enforce the law and punish the illegal acts severely.We should strengthen the punishment of financial fraud.First,we should strengthen the punishment of fraudulent companies.We also should strengthen the punishment of responsible intermediaries.