Study On The Problems And Countermeasures Of Internal Audit On The Infrastructure Projects In Colleges And Universities

As one of the important tasks of colleges and universities, internal audit on the infrastructure projects takes a vital part on many aspects including standardizing administration, improving internal control system, saving investment as well as promoting clean and honest administration. In-depth study of the internal audit on the infrastructure projects in colleges and universities is the historic mission of audit staffs in colleges and universities because it not only enhance people’s attention to this problem, but also help them understand the outstanding problems in the management, and recognize the urgency of the complete implementation of the whole process as well as the various audit system.Starting from sorting the document literatures, the thesis explored the relevant theoretical and practical issues. Through categorizing the document literatures from nine points including the characteristics and contents of the infrastructure projects in colleges and universities, the whole process of follow-up auditing, auditing of economic responsibility of the infrastructure sector leaders, audit appointment, supervision and so on, this thesis concluded a more comprehensive understanding of the status of the internal audit on the infrastructure projects in colleges and universities, and pointed out the flaws of the existing studies.By doing internet surveys, deep interviews and case studies, this thesis surveyed and analyzed the existing problems. It can be drawn from the analysis that target location of the project internal audit was unscientific, the awareness of risk and the concept of performance audit were not enough, principal-agent relationship was not clear, fulfillment of the fiduciary responsibilities was ineffective, internal audit institutions were not independent, the audit understaffing was existed, audit content was not comprehensive, the focus was too limited, pre-trial preparation was not adequate, the audit program was imperfect, post-trial tracking was not in the right place, audit techniques and methods were more backward, and audit reports were not objective and practical enough. All the problems mentioned above led to a lack of independence and objectivity of internal audit and could not guarantee the quality of work, thus the role of the audit could not be effectively carried out.Aiming at the existing problems, this thesis analyzed systematically the work environment in terms of the colleges and universities, the construction side, supervision side and the government, and put forward countermeasures and suggestions for further standard management.The countermeasures and suggestions are as follows:purposes of the audit should be positioned to help schools realize the increase of their value, colleges and universities should be clearly entrusted with the fiduciary duty; the independence and objectivity of internal audit should be ensured; the implementation of the internal audit controls should be system oriented; the five auditing systems of projects which include the whole process of tracking should be completely carried out; on the aspect of improving the audit work environment, colleges and universities should re-recognize the importance of the audit; government should strengthen its efforts on the implementation of standardized and strict regulation on the major industry and relevant professional and technical personnel.Based on the theories and practices, this thesis studied the existing problems with systematic analysis, it made a good attempt on the analysis of the work environment of internal audit, and broke through the limitation of only studying the audit issue itself. This thesis also illustrated countermeasures for the colleges and universities to implement completely the five auditing systems, and made contribution to the enriching of the internal audit of colleges and universities by auditing the engineering supervision.In order to analyze the management issues,50 universities with better internal audit websites were recruited as research samples in this study. The limitations of this study are:the randomness of time for selecting samples; some of the audit websites were revising during the investigation period; sample selection is with subjectivity that some of universities with good internal audit websites were ignored; some universities with good internal audit websites (eg. Universities in Guangdong and Hubei provinces) were abandoned so as to guarantee the universality of the samples. Generally speaking, universities with good internal audit websites often did better in audit work, but there are also exceptions. In addition, there are also limitations and shortages on the author’s interviews, case selection and analysis.In a word, the study on the performance and risk audit of the Infrastructure projects in colleges and universities needs to continue.