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中国上市公司会计信息失真困境探究

时间:2016-12-13 来源:未知 作者:陈赛楠 本文字数:3953字
  摘要
  
  上市公司会计信息直接反映了企业的经营业绩,公司投资者和管理者通过分析财务信息来预测企业未来经营状况、做出科学的投资经营决策。上市公司会计信息一旦失真,将造成国家税收收入和国有资产的流失,影响证券市场健康发展,扰乱国家经济秩序,误导政府宏观调控等严重后果,并将给投资者带来严重的经济损失。市场经济条件下,个别上市公司为了谋取不正当利益,通过虚构客户、虚增资产、虚造假象等手段,粉饰经营业绩,提供虚假财务信息,欺诈上市融资,损坏投资者利益,影响证券市场发展。
  
  对“万福生科”案造假方式、经济危害、相关方责任进行深入分析后发现,上市公司财务信息失真,将为投资人、债权人、公司员工、资本市场带来严重危害。造假案发后,按照我国法律有关规定,对上市公司、公司高管、保荐机构、保荐人做出的处罚相对较轻。上市公司财务信息失真,欺诈上市的违法收益远大于案发后支付的违法成本。反观香港“洪良国际”案,香港证监会及时启动投资者权益补偿机制,优先补偿受欺骗投资者的经济损失,提高投资者的投资信心,又可以起到增加上市公司的违法成本的作用;同时撤销涉案保荐机构的保荐资格并给予重罚,有效督促保荐机构切实履行职能,规则中介机构经营。美国安然公司舞弊案,美国证券交易委员会向安然公司开出巨额罚单,要求安然公司支付投资者赔偿金,重罚安然公司高管和涉案的会计师事务所、保荐机构,并出台萨班斯法案,加大对涉案人员的处罚力度,大大提高了上市公司财务信息失真的违法成本。萨班斯法案出台十几年来,美国是安然之后再无安然,中国是安然之后倒下一片,与我国上市公司会计失信失真违规成本过低有着很大的关系,美国、香港等经济发达国家和地区的处罚经验值得我们学习和借鉴。
  
  通过对“万福生科”案处罚措施的分析和与香港“洪良国际”案以及美国安然公司舞弊案的对比后发现,提高上市公司会计信息失真的违规违法成本是解决会计信息失真问题的关键。本文按照依法治国原则、理性经纪人原则、保护投资人原则和科学防范原则,建议通过提高上市公司、公司高管、中介机构和相关人员会计信息失真的违法违规成本来有效解决上市公司会计信息失真问题。对涉案上市公司建议加大经济处罚力度、勒令退市赔偿损失、影响行业从业资质、追究大股东责任;对涉案中介建议采取增加罚款金额、取消行业从业资金;对涉案人员建议加大处罚力度、扩大处罚范围、取消从业资质。
  
  今天的处罚是为了明天更好的发展,希望通过提高违法违规成本,可以有效解决上市公司会计信息失真问题,让“万福生科”这张史上最严罚单成为史上最终罚单。
  
  关键词:上市公司,财务信息,失真,违规成本
  
  Abstract
  
  Listing Corporation accounting information reflects directly the performance of thebusiness, investors and managers of companies through the analysis of enterprise financialinformation to predict the future business conditions, make scientific investment decision.
  
  Listing Corporation accounting information distortion will be caused once, the state taxrevenue and the loss of state-owned assets, affect the healthy development of the securitiesmarket, disturb the economic order of the state, to mislead the government macroeconomicregulation and control and other serious consequences, and will bring serious economiclosses to investors. Under the conditions of a market economy, individual listingCorporation in order to seek illegitimate interests, through the fictional customer, addassets, false illusion and other means, cosmetic business performance, providing falsefinancial information, listing and financing fraud, damage the interests of investors, theinfluence of the development of the securities market.
  
  Carry on the thorough analysis to the “Wanfu graduate” fraud case mode, economicharm, responsible after the discovery of the listing Corporation, the distortion of theaccounting information, for investors, creditors, the employee of the company, the capitalmarket brings serious harm. Fraud after the incident, in accordance with the relevant lawsand regulations of our country, the listing Corporation, the company executives, sponsors,sponsors to make the punishment is relatively light. Listing Corporation, the distortion ofthe accounting information fraud, illegal cost listed illegal income is far greater than afterthe payment. In Hongkong the “Hontex case,” the Hongkong SFC timely launch of theinvestor rights and interests compensation mechanism, priority compensation deceivedinvestors economic loss, improve investor confidence, but also can play the role of illegalcost increase listing Corporation; at the same time cancel sponsor agency involved thequalification and given heavy fines, the effective supervision of the recommendationinstitution to perform function practically, intermediary business rules. America EnronCorp fraud, the securities and Exchange Commission to USA Enron Corp huge fines, askthe Enron Corp investors pay for damages, fines Enron Corp executives and accountants,the recommendation institution, and the introduction of the Sarbanes Oxley Act, increasepenalties for involving people, greatly improve the illegal cost listing Corporationsfinancial information distortion. The Sarbanes Act issued more than ten years, AmericanEnron then no Enron, Enron China is fell down after a Chinese listing Corporation, and thedeception in accounting distortion illegal low cost has a great relationship, developedcountries and regions, such as Hongkong USA punishment experience worth learning andreference.
  
  Through the analysis of “Wanfu graduate” case the punishment measures and thecontrast with Hongkong “Hontex” case and America Enron Corp fraud after the discovery,raise the illegal cost listing Corporation of tne distortion of accounting information is thekey to solve the problem of accounting information distortion. In this paper, according tothe principle of the rule of law, the principle of rational agent, investor protection principleand scientific principle of prevention, proposed by improving the listing Corporation, thecompany executives, intermediary agencies and related personnel illegal cost accountinginformation distortion to effectively solve the problem of distortion of accountinginformation of listing Corporation. The proposal to increase efforts to listing Corporation,economic punishment ordered to withdraw from the market compensation for losses,industry practitioners qualification, investigated the effects of large shareholders to takeresponsibility; increase fines, the abolition of capital of industry practitioners involvedintermediary advice; the personnel recommended to increase penalties, expand the scope ofpenalties, cancel qualification.
  
  Today's punishment is in order to develop a better tomorrow, hope that throughimprove the illegal cost, can effectively solve the problem of accounting informationdistortion of the listing Corporation, let “Wanfu graduate” this piece of the history of themost stringent ticket becomes in the history the final ticket.
  
  keywords: Listing corporation,Financial information,Distortion,Lllegal cost


  目录
  
  第一章 引论
  
  1.1 选题内容及意义
  
  1.2 相关概念界定
  
  1.2.1 我国上市公司定义
  
  1.2.2 会计信息定义
  
  1.2.3 会计信息作用
  
  1.2.4 违规成本定义
  
  1.2.5 违规成本分类
  
  1.2.6 违规成本作用
  
  1.3 国内外研究现状
  
  1.4 研究方法
  
  1.4.1 理论分析与对策研究
  
  1.4.2 对比分析法
  
  1.4.3 案例分析法
  
  1.5 技术路线
  
  1.6 本章小结
  
  第二章 会计信息失真的危害及处罚
  
  2.1 会计信息失真的表现
  
  2.1.1 无意失真
  
  2.1.2 故意失真
  
  2.2 会计信息失真的危害
  
  2.3 会计信息失真的处罚措施
  
  2.3.1 会计信息失真的处罚措施
  
  2.3.2 会计信息失真的违规责任分析
  
  2.4 本章小结
  
  第三章 万福生科案例分析
  
  3.1 基本情况
  
  3.1.1 公司简介
  
  3.1.2 经营产品
  
  3.1.3 发展历程
  
  3.2 财务信息造假
  
  3.2.1 基本情况
  
  3.2.2 造假手段分析
  
  3.2.3 造假流程分析
  
  3.3 财务造假曝光
  
  3.3.1 曝光过程
  
  3.3.2 相关责任方处罚情况
  
  3.3.3 受害者及其所受损害的利益
  
  3.4 相关方责任分析
  
  3.4.1 上市公司的责任
  
  3.4.2 保荐机构的责任
  
  3.4.3 注册会计师的责任
  
  3.5 处罚结果的启示
  
  3.5.1 处罚亮点
  
  3.5.2 处罚过轻
  
  3.6 本章小结
  
  第四章 案例分析比较
  
  4.1 香港洪良国际案
  
  4.1.1 法律规定
  
  4.1.2 洪良国际造假案
  
  4.2 美国安然公司造假案
  
  4.2.1 基本情况
  
  4.2.2 处罚情况
  
  4.3 给我国带来的启示
  
  4.4 本章小结
  
  第五章 对策及建议
  
  5.1 指导思想
  
  5.2 基本原则
  
  5.2.1 依法治国原则
  
  5.2.2 理性经纪人原则
  
  5.2.3 保护投资人原则
  
  5.2.4 提前防范原则
  
  5.3 具体措施
  
  5.3.1 增加上市公司违规成本
  
  5.3.2 增加公司高管违规成本
  
  5.3.3 增加会计人员违规成本
  
  5.3.4 增加保荐机构违规成本
  
  5.3.5 加强会计中介违规成本
  
  5.4 本章小结
  
  结论与展望
  
  参考文献
  
  致 谢
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