Research On Financial Fraud Of YC Based On The GONE Theory

China is in a stage of high-quality economic development,but the financial fraud cases accompanying it are becoming more and more frequent.In 2021,a total of 1,963 cases were adjudicated by the CSRC.The cases made bad market impact,the problem of financial fraud gradually became a social problem that attracted much attention.Although with the in-depth research of experts and scholars,the public attaches great importance to this issue,but in recent years,financial fraud has increased in gangs,professionalism and diversification,and there are insider trading and internal and external collusion,which has increased the difficulty of supervision and brought invisible and huge harm to the image of Chinese enterprises in the world.Presently,most of the research objects of financial fraud in China are about listed companies,the attention to the bond market has not aroused enough attention and gradually become a "blind spot" in the study of fraud.The frequent occurrence of debt defaults by state-owned enterprises in recent years has repeatedly refreshed the public's perception and bottom line.This paper selects YC Coal Power Group Co.,Ltd.,which was punished by the CSRC in June 2021 for 86.1 billion yuan of huge financial fraud,as the research object,YC Coal Power Group Co.,Ltd.is a large state-owned enterprise that is not listed.Its fraud incident occurred relatively close to the present,the amount of fraud is huge,and the subsequent impact is extensive,which is a representative research case.Based on the GONE theory,this paper is divided into five parts: introduction,case description,case analysis,countermeasures and suggestions,conclusions and prospects.Through the study of YC coal power financial fraud cases and put forward corresponding opinions,in order to have a certain reference value for large state-owned enterprises to improve the status quo of financial fraud in practical work,and protect the interests of bond investors.At the same time,I hope that people will pay attention to the current situation of financial fraud in unlisted state-owned enterprises,and promote China's economic development towards higher quality,fairer,more efficient and more secure direction.