Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 69 , 08 January 2024
Open
Access | Article
Avoiding Audit Failures - A Case Study of Xintai Financial
* Author to whom correspondence should be addressed.
Abstract
In recent years, financial fraud cases have been on the rise, with a combination of subjective reasons within companies and audit failures caused by negligence on the part of accounting firms. This paper examines the case of audit failure at Xintai Financial to understand how companies engage in financial fraud through illegal means, manipulate financial statements, and highlights the shortcomings of Beijing Xinghua Accounting Firm in their work, which contributed to the success of Xintai Financial’s financial fraud. In conclusion, three insights are drawn to provide lessons for the future on how to prevent audit fraud effectively.
Keywords
Financial fraud, audit failure, effective oversight
References
1. Dong, Y., & Ma, X. (2021). Analysis of the Causes of Financial Fraud in Xintai Electric and Countermeasures. *Modern Business*, (25), 187-189. DOI: 10.14097/j.cnki.5392/2021.25.060.
2. Long, D. (2021). Analysis of Xintai Electric’s Financial Fraud Case from the Perspective of GONE Theory. *International Business and Accounting*, (09), 47-51.
3. Leng, Y. (2020). Implications of Xintai Electric’s Financial Fraud Case for Domestic Regulation. *Economic Research Reference*, (01), 198-199.
4. Zeng, Y. (2021). Implications of Financial Fraud in Listed Companies: A Case Study of Xintai Electric. *Modern Business*, (19), 126-128. DOI: 10.14097/j.cnki.5392/2021.19.039.
5. Long, D. (2022). Analysis of Xintai Electric’s Financial Fraud Case from the Perspective of Accounting Firms. *Wealth Era*, (04), 119-121.
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).
- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-269-5
- ISBN (Online)
- 978-1-83558-270-1
- Published Date
- 08 January 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/69/20231361
- Copyright
- 08 January 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited