The Audit Study Of China’s Local Government Debt

In recent years,the public has paid more and more attention to the problem of local government debt,The National Audit Office conducted three special audits of local government debt,but it’s debt audit still has a lot to be improved,therefore,this paper has a certain importance and necessity of the research on the local government debt audit in our country.This paper has studied the local government debt audit from the following aspects.First of all,this paper summarizes the domestic and foreign literature on the definition of local government debt,the target of local government debt audit,audit object,audit announcement,audit methods and summarizes the literature review.there is a limited number of literature studies in this particular area and the research among them on local government debt audit announcement is limited to the audit result announcement,however,there is a few theoretical research on audit announcement.Secondly,based on the three audit of audit results announcement and two results reports released by national local government debt and the provincial bureaus of local government debt of audit results announcement of the in-depth analysis,this paper demonstrates the status quo of local government debt auditing in China from four aspects:audit objective,auditing scope,audit announcement,and audit mode.Then it sums up our country’s local government debt audit existence insufficiency and the plight by which faces.Once more,this paper analyzes the local government debt management system of the three developed countries,namely USA,Japan and Sweden.US law clarifies the authority of local governments of borrowing debt and repay the source of funds;Japan’s use of local government debt funds have the corresponding legal constraints and can only be used for capital expenditures;Sweden’s Audit Office implemented a strict debt pre-audit,reducing the risk of debt.Then,combined with the country’s basic conditions of development in the primary stage of socialism,this paper proposes an improved local government debt management inspiration.Finally,based on the above analysis of the current situation of China’s local government debt audit and the successful experience of debt management in the United States,Japan and Sweden,the five aspects including the audit objectives,audit object,audit scope,audit announcement and audit methods,this paper is to improve the local government debt audit.In this section,this paper presents the audit of the budget implementation and audit of local government debt cross-audit,tracks audit on the debt funds chain and combined with economic responsibility audit.