• Login
  • Register
  • Search

Analysis and Countermeasures of Financial Fraud of Listed Companies—Taking Greencool Incident as an Example

Shumin Ge


The sustainable development of China’s economy stimulates the continuous increase in the number of listed companies, and the competition among them is also intensifying. Financial fraud is used to cover up the real operation of the company, which has a serious impact on the order of economic development. So, it is necessary to analyze the causes of financial fraud of listed companies, and we need to deal with the behavior from the root. Therefore, this article selects one of the typical cases in this field, Greencool incident, and combines with the fraud triangle theory to explore the essential causes of financial fraud, and puts forward relevant governance countermeasures, so as to reduce the occurrence of financial fraud.


Financial Fraud; Greencool Incident; Fraud Triangle Theory; Governance Countermeasures

Full Text:



Wang J. Research on the causes and countermeasures of financial fraud of listed companies in the era of network economy—Taking Ruixing Coffee as an example (in Chinese). Market Modernization 2020; (15): 161–164.

Wang D. Analysis and enlightenment of Greencool financial fraud case (in Chinese). Economic Affairs 2009; (1): 47–52.

Zhang L, Hu H, Yu Y. Financial fraud case study based on fraud triangle theory (in Chinese). Finance and Accounting Monthly 2015; (7): 69–72.

Ren Y. The causes and countermeasures of fraud in company financial reports based on triangle theory (in Chinese). Chinese Enterprise Accounting of Villages and Towns 2020; (6): 80–81.

Jia R. Viewing the supervision of accounting information disclosure of listed companies from the Kelon Electric case (in Chinese). Journal of Financial Development Research 2008; (8): 73–75.

Ye G, Wei M. Discussion on financial fraud of listed companies based on fraud triangle theory: Taking Jinya Technology as an example. Value Engineering 2020; 39(4): 63–65.

Zhang X, Ban Y. Analysis and enlightenment of Greencool financial fraud case (in Chinese). Market Modernization 2012; (29): 145.

Song R. Talking about the application of modern risk-oriented audit—Based on the case analysis of Kelon Electric (in Chinese). Guangxi Quality Supervision Guide Periodical 2020; (3): 194–195.

Wang X. Discussion on the internal control system of enterprises under optimizing the corporate governance structure (in Chinese). Securities Futures of China 2011; (11): 86–87.

He Y. Research on enterprise internal auditing problems and solutions (in Chinese). China Market 2020; (28): 152, 154.

DOI: http://dx.doi.org/10.18686/fm.v5i4.2774