Audit Research On Corruption Of Related Party Transactions Based On LeTV.com

After the reform and opening up,the development of China's capital market has become increasingly mature.In the past few decades,many enterprises have expanded their scale through continuous merger,merger or joint venture development strategies,and have obtained extremely objective economic benefits.Of course,successful companies have established a strong foothold in the market through healthy operations and fair competition.At the same time,some companies are opportunistic and try to manipulate profits by some illegal means.Financial fraud is often used to whiten internal problems means.In recent years,with the fierce competition in the capital market,more companies have chosen to cooperate and develop together to create benefits.At the same time as related party transactions have become more complicated,the accompanying problems have also increased.On the one hand,this is unfair to the companies that are in good competition with the industry,causing trouble for auditing units,and on the other hand,it also brings huge challenges to the supervision of China's securities market.The destruction of Le TV's myth is a typical representative of financial fraud companies in recent years.As of March 2019,a number of Le TV companies have been blacklisted by the court.Imagine the myth of Le TV at that time,and then compare the scene of Le TV stepping down from the altar today.In 2004,Jia Yueting pioneered the so-called "Le TV model",based on the "platform + content + terminal + application" model,the Le TV industry continued to develop and later became the leading Internet company in China.In the past ten years,Le TV has been favored by countless investors,which has also provided a steady stream of financial support for Le TV's rapid expansion.Behind the infinite scenery,there is actually a huge crisis hidden.Beginning in 2016,news about Le TV's financial problems has been frequently exposed.The core of the problem is the mystery of Le TV's related party transactions,accounts receivable and deferred income tax.In particular,the complexity of related party transactions has made Le TV a focus of attention in the industry,and the fraudulent methods used by them in related party transactions are even more shocking.Xinyong Zhonghe Certified Public Accountants issued an audit report of Le TV's annual report with “unqualified opinions with emphasis on matters”,that is,“non-standard opinions”.It can be seen that at this time,Le TV is already in hot water.The founder Jia Yueting has stayed in the United States for a long time and does not intend to return to the country.Now Le TV has become a hot potato,and his successors are unable to return to heaven.At this point,the Le TV myth is completely destroyed.This article will mainly analyze the problem of fraud of related party transactions of Le TV.com,and interpret the behaviors of Le TV that use related party transactions to whitewash reports and confuse the public.And try to explain why such serious related partytransaction behaviors were not disclosed until 2016.What's wrong with Le TV's annual report audit? In today's fierce competition in the industry,the CSRC has continuously issued guidelines and guidelines to regulate related party transactions,with the aim of preventing the recurrence of the "Le TV phenomenon".Refining pricing policies,forcing the disclosure of key information,improving the disclosure of different types of transactions,and reducing the relevance of both parties to the transaction are the keys to avoiding problems.