Auditing Can Bring Many Benefits

Hu Zejun, newly-appointed auditor general of the National Audit Office, has vowed to make full use of the role of auditing in the coming days.

"Being part of the Communist Party of China (CPC) and the Chinese government's supervision system, auditing not only involves public funds, state-owned resources and state-owned assets, but also concerns officials' financial responsibility," Hu said in Beijing on March 19.

"To form a unified and efficient auditing supervisory system, we must uphold the leadership of the Party, maintain the independence of auditing and clarify officials' responsibilities."

 

 

Speaking of fighting major risks, poverty and pollution, Hu said auditing can bring many benefits if done properly.

"Firstly, we will make auditing work for major risk prevention and mitigation. By taking advantage of high professional standards, wide coverage and quick response, we will uncover risks posed by shadow banks, non-performing loans and off-balance sheet activities," Hu explained.

"We will also pay close attention to local government debts and the hidden dangers of real estate, state-owned property and state-owned assets, and issue early warnings when major risks emerge.

"Secondly, to make auditing work for targeted poverty alleviation, we will focus on the implementation of targeted poverty alleviation, expose embezzlement and corruption and prevent formalism.

"Thirdly, to make auditing work for pollution prevention and control, we will constantly update auditing methods and promote ecological civilization construction in accordance with the regulations of the central government."

Hu also stressed the importance of promoting big data auditing, adhering to scientific auditing and improving efficiency. Meanwhile, she highlighted the supervisory role of auditing in preventing risks, achieving high-quality development and carrying out anti-corruption campaigns.

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