A Research On GWDC Energy Business Division Internal Project Auditing

The construction projects in oil industry is the main investment of fixed assets in oil companies. As a result, the internal auditing of the oil company plays a crucial role in guaranteeing the quality and economic effects of those construction projects. What is more, it is also an assurance of the strategic development of the company.This essay aims at researching the internal project auditing. The first part summaries theliteratures about internal project auditing both at home and aboard. The second part of theessay explains the prime knowledge of internal project auditing, giving us the basicinformation about the main body, the object and the basis of internal project auditing of acompany. After that, it presents the standard process of internal project auditing. Flowing that,it introduces the possible risks in each step of the flow of internal project auditing. In the end,it gives a clear conception of performance auditing, and elaborates the scope the performanceauditing form the macroscopic perspective and the microscopic perspective.The third part ofthis essay introduces the internal auditing organizational structure of GWDC, as well as theduties and obligations of auditing in Liaohe River oil field Business division. Based on that, itreveals the problems existing in Liaohe River oil field Business division. They are the threeflowing three points, the lack of all-around project auditing, the embezzlement of auditing andthe risks of completion settlement auditing, defects of project performances auditing. Thefourth part puts forward some solutions to the problems roused in the third part. The firstpoint attaches importance to preaudit, including the decision auditing of front-end investment,the internal auditing of budget estimation, the auditing of bidding and contraction. The secondpoint gives some suggestions to solve the auditing embezzlement in the process ofconstruction projects and the auditing risks in the completion settlement of constructionprojects. The third point proposed three precautions to perfect the performance auditing ofconstruction projects. They are paying attention to the collection of auditing proves, setting upperformance indicator system, and strengthen accountability system.This essay which has a clear framework and focuses on the main points intends to make a significant contribution to the internal construction project auditing for the oil industry.