Abstract
With the development of the economy and society, China's capital market has become more open and transparent. In recent years, listed companies have gone to great lengths to whitewash statements and convey false information in order to raise funds, improve performance and boost share prices, which has led to frequent instances of financial fraud such as Ruixing Coffee and Wanfushengke. Despite increased supervision by regulators, a series of punitive measures and regular training for executives and finance staff to improve their professional ethics, the huge benefits of financial fraud still drive practitioners to commit fraud on their own initiative. This paper analyses the causes of fraud at Guangzhou Longkey based on the more established fraud risk factor theory and proposes effective countermeasures to address the causes.
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