美国财务舞弊症结探究

美国近期刮起的财务舞弊案风暴不仅使投资者和债权人损失惨重 ,也使社会公众对美国公司界丧失信心。这一连串的恶性财务舞弊案凸显出美国制度安排的结构性缺陷 ,迫使人们反思这些舞弊案的症结所在。本文提出 ,华尔街本末倒置的盈利预期、公司界扭曲的股票期权激励机制、独立董事摆设性的督导模式、管理咨询机构有失偏颇的出谋献策、准则制定机构对规则基础游戏规则的偏好 ,以及会计职业定位紊乱重心偏离审计业务 ,是导致美国财务舞弊屡禁不止的六大病因。

Exploring the Crucial Reasons of Financial Fraud in U.S.A.

The widespread of financial fraud in U.S.not only causes huge losses to investors and creditors,but also makes the public lose confidence on corporate America.This series of egregious financial fraud clearly demonstrate the structural weaknesses of the institutional arrangement in U.S.,forcing people to probe into the real causes of financial fraud.This paper claims that six dysfunctional areas contribute to the repeating financial fraud in America.These areas include(a)putting the cart before the horse approach to earnings forecast by Wall Street;(b)the distorted motivation mechanism of stock option widely used by corporate America;(c)the ornamental monitoring system of independent directors;(d)the biased management advisory service offered by consulting firms;(e)the preference to rule base in standard setting;and(f)accounting profession's disorientation and deviation from its attestation function.