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A Case Study of the Accounting Fraud of Xin Tai Electric

Xintai Electric Company, which has been delisted on August, 2017, is the first listed company on GEM in the PRC stock market to be delisted for fraud issuance. This paper firstly studies the process and means of financial fraud of Xintai Electric in details and then analyzes the causes of the financial fraud from both internal and external aspects of the company. Moreover, this paper puts forward measures to govern accounting frauds of listed companies: increasing the punishment on the financial fraud by the state, enhancing the credit awareness in enterprise, perfecting the inner-company control and improving the professional quality of certified public accountants.