The fixed assets, construction in p

The fixed assets, construction in progress, and intangible assets of listed agricultural companies, such as the ecological fish ponds of Lantian Co., Ltd., and the irrigation systems of the ecological base of the grassland Xingfa, are affected by the characteristics of the industry. The types and forms are relatively diverse and special. It is easy for companies to use some high-tech concepts to package them, and then manipulate the value through impairment preparations. In addition, some companies that use agricultural land for transactions are usually concentrated in the county and township-level areas, and the procedures for constructing fixed assets are not standardized, causing trouble for auditors to obtain sufficient evidence and leaving room for financial fraud. According to statistics, listed agricultural companies have carried out financial fraud by inflating the value of fixed assets, intangible assets, and construction in progress by as much as 53.3%.