From Lantian shares to the billion Ann technology, from Qin Feng agriculture to Kelong Electric, in recent years, a number of listed companies suspected of financial fraud scandal has been exposed, and behind the scenes there is always a "conspirators" shadow: large and small accounting firms.
- Listed companies fraud case "ten false nine complicity"
In the "Lantian myth" in the fabrication of an important role in the Warren accounting firm, both non-intermediary organizations suspected of The first case of misrepresentation was pushed to court, nor the last case, in the Oriental Electronics, st Jiuzhou, Jinzhou Port, Kelong Electric and other securities civil compensation cases, there are accounting firms of the figure.
In early July, minority shareholder Zhang Aiping sued Kelong Electric, Deloitte Touche Tohmatsu for false securities information, was accepted by the Guangzhou Intermediate People's Court. 59 lawyers from the country at the end of July, "Kelong, Deloitte misrepresentation of the securities civil compensation case of the national lawyers' rights group", meeting to discuss Deloitte and Touche.
The first step in the process is to find a solution to the problem of the "false statement" lawsuit and concerted action.
Song Yixin lawyer said, blue field case judgment shows that as long as the misrepresentation behavior exists, the shareholders can be Deloitte as the second defendant, requiring joint and several liability.
This is not the first time Deloitte, one of the world's Big Four accounting firms, has been challenged in China. Previously, the Audit Commission of 16 accounting firms with the qualification of auditing listed companies audit business quality inspection found that Deloitte Touche Tohmatsu in the audit has been identified in Anhui Gujing Gongjiu Company Limited underpayment of enterprise income tax, but "not to be specified". Zhu Defeng, deputy chief accountant of Shanghai Qinye CPA Firm, said, "This shows that Deloitte's professional conduct has problems, which is the most serious problem for accounting firms."
Accounting firms suspected of colluding with listed companies to create fraud, has long been a "windowpaper". April 10 this year, Hua Yuan Pharmaceutical announcement admitted that "the company does have financial data distortion, improper accounting, revenue inaccuracies, inflated profits and other issues", 2001, 2002, 2004, the company's net profit should be negative, but in Shanghai Donghua accounting firm "audit" under the results of the "audit". "Under the results of the "profit" 49.46 million yuan.
Similar cases of counterfeiting of listed companies surfaced, but also clearly shows the characteristics of the "ten false nine conspiracy" Since 2000, almost every counterfeiting company behind, there is a problem of accounting firms: Qiong Minyuan event in the original Hainan Chinese accounting firm, Yin Guangxia event in the original Shenzhen in the Tianqin accounting firm, Zheng Baiwen event, the accounting firm of the original Shenzhen in the Tianqin accounting firm, the accounting firm, the accounting firm, the accounting firm, the accounting firm, the accounting firm, the accounting firm, the accounting firm and the accounting firm, the accounting firm. Accounting firm, Zheng Baiwen event in the original Zhengzhou accounting firm ......
- intermediaries involved in counterfeiting, the root in the supervision of ineffective
"honesty as the basis for the integrity of the important, follow the guidelines, do not do false accounting "The first thing you need to do is to get your hands on a new pair of shoes or boots. But in reality, why the repeated staging of "police" and "robbers" in collusion with the ugly drama?
Lax regulation and lack of compliance with the law. Fudan University professor Lv Changjiang said: "100 thieves can only catch one, the remaining 99 are unharmed." The absence of laws and regulations and the lack of supervision have led to the discovery of financial fraud by listed companies as a "small probability" event. Lv Changjiang pointed out that the mainland accounting firms issued inaccurate audit reports are more common. More than 80% of the financial audit reports issued by accounting firms for listed companies are "unqualified", and only 20% of the reports may point out certain problems.
Poor discipline and lack of integrity. Shanghai Guangming Law Firm lawyer Tu Yong said, although the securities law, the CPA law prohibits the issuance of false audit reports, but the relevant laws and regulations are not complementary, civil damages and criminal prosecution there are legal problems, mainly administrative penalties, through the judicial system to achieve civil compensation is very little. For example, Hubei Lihua CPA firm for Hubei Xinghua, vitality 28 and other five listed companies to prepare the "performance myth", issued a false performance statement, and was only merged afterwards.
Prosecution is not admitted, admitted not in court, in court not judgment, judgment is not implemented. This kind of strange situation in the silver Guangxia, Jinzhou Port, Oriental Electronics and other securities civil compensation cases have been staged again and again, and as a listed company's fake complicity of the accounting firm, but also get away with it, the expected benefits of counterfeiting is far greater than the cost of the offense.
Lv Changjiang analyzed that the lack of supervision and poor discipline is objectively equivalent to condoning violations. Even internationally recognized accounting firms continue to experience credibility crises on the mainland. For example, KPMG was criticized by the Ministry of Finance, but also because of the Jinzhou Port case in court; PricewaterhouseCoopers was ordered by the Ministry of Finance to rectify the situation; Deloitte was caught up in the "Dragon Gate" and so on. But in the end, these incidents have not been resolved.