Financial Fraud Analysis And Governance Research Of Listed Companies Under The Background Of The New "Securities Law"

After China's accession to the WTO,the domestic economy is developing rapidly,and my country's capital market is also developing rapidly and gradually becoming in line with international standards.Now,with the passage of time,especially since the 21 st century,whether domestic or foreign,the phenomenon of corporate financial fraud has emerged one after another,and even intensified.Malicious financial fraud,on the one hand,will cause the company's stock price to collapse,be hit and go bankrupt and liquidate,and the company's reputation will be destroyed.On the other hand,it will also cause huge losses to investors and stakeholders and dampen investor enthusiasm.Therefore,preventing financial fraud of listed companies has become the most concerned issue of people from all walks of life around the world.Although the practical and theoretical circles have carried out extensive and in-depth research on the financial fraud problems of various companies in our country,and have proposed solutions and countermeasures from different angles,for the company as a whole,the complexity of the profit target will make the solution measures There are differences,so if we want to govern,we must start from multiple actors and prescribe the right medicine.Based on this,this article selects Kangdexin Company as the research object under the background of the new "Securities Law",based on theory,first introduces the basic situation of Kangdexin Company,and analyzes the specific methods of financial fraud and the consequences.Using the theory of fraud risk factors as an entry point,a comprehensive and in-depth analysis of the deep-seated reasons of Kangdexin.In terms of moral quality factors,it is mainly due to lack of moral quality in shareholders,management,and intermediary agencies.In terms of fraud motive factors,it is mainly due to the tight capital chain of shareholders,high pressure on management performance,and the risk of delisting the company.Potential fraud opportunities It is mainly reflected in the concentration of equity and internal control imbalance.In terms of the probability factor of fraud being discovered,the main reason is that the external intermediary agency is unfavorable in the review.The punishment factor after the fraud is discovered is mainly due to insufficient punishment and the securities civil compensation system.imperfect.Research shows that the full implementation of the new "Securities Law" will have a deterrent effect on financial fraud,can curb the chaos of financial fraud to a certain extent,promote listed companies to improve their governance structure,prevent investors from suffering losses,and protect investors Legal rights.Combining the relevant provisions of the new "Securities Law" to propose measures to prevent financial fraud.First,companies should fully implement the information disclosure requirements of the new "Securities Law",improve the professional ethics of shareholders and managers,and build an honest and law-abiding corporate culture.Improve internal control to ensure the authenticity and effectiveness of information disclosure;intermediary agencies need to be diligent and responsible,adhere to professional ethics,and check the corporate information disclosure;at the same time,relevant regulatory agencies should also supervise during and after the event in accordance with the requirements of the new Securities Law In the process,severe penalties were imposed on financial fraud,the advance payment system was promoted,the representative litigation system was implemented,and information disclosure requirements were strengthened.The Kangdexin case has become a thing of the past.Only when all participants in the securities market pay attention to the transparency of financial information and fully implement the requirements of the new "Securities Law" can we achieve effective governance of financial fraud and protect the legitimate rights and interests of investors.Let the entire securities market achieve benign,healthy and sustainable development.