China’s foreign trade has gradually lost its advantage due to continuous rise of RMB exchange rate and the labor costs in recent years. China urgently needs to explore new international trade markets to reinvigorate its foreign trade. With the recent development strategy of “One Belt One Road”, China should seize this opportunity to develop Islamic finance since most countries along the routes are Islamic countries. Islamic finance differs from traditional finance in its principles, development, products, operations, and regulation. The purpose of this article is to examine Chinese views on Islamic finance. The study conducted a survey through questionnaire. The findings show that the most ideal area to develop Islamic finance is in China’s northwest region due to its cultural advantages. The survey records that respondents’ reluctance towards Islamic finance mainly due to the absence of legal system and financial regulations for Islamic finance in China. Moreover, lack of talents in Islamic finance is also a major concern based on the survey. The study believes that the development of Islamic finance is conducive to the sound development of China’s financial system. It strengthens economic and trade cooperation with the Islamic world, enhances the ability to attract investment, and promotes harmonious economic development of ethnic minority areas.

Occupational fraud costs the average firm 5% of its annual income. This equates to a $3.7 trillion yearly loss due to fraud worldwide. The bulk of reported losses (51.9%) were less than $200,000. Financial statement fraud is the most expensive type of occupational fraud, with an average loss of $1,000,000. The most popular methods of detecting fraud are tips (42.2%), management reviews (16.0%), and internal audits (14.1%). Surprisingly, external audits (done by CPA firms) account for just about 3.0% of fraud detection. The majority of cases of fraud identified through tips come from workers (49.0%), followed by consumers (21.6%). Financial reports have been used to anticipate stock return, and firms with top management counsel (TMC) are less likely to see their stock price fall. Therefore, this paper offers a review of the research on earnings management conducted in earlier studies. The problem arising from earnings management will be covered under dilemma in earnings management disclosure studies. Next, evidence of earning management activities is discussing on the previous studied of earnings management. This study also investigates the approaches employed by early researchers to address this problem. The finding discovered by the researcher will be covered under the discussion on earnings management disclosure. Researchers can use this review paper as a reference for researching earnings management in annual reports