A Case Analysis Of The Government Audit Stationed In The China Aerospace Science And Industry Group And Its Impact

With the National Audit Office audit to strengthen the audit work of state owned enterprises step by step,the role of government audit in the supervision of state owned enterprises is becoming more and more important too,the function of government audit has been evolving and expanding,the governance function of government audit has promoted the rapid,sustainable and healthy development of state-owned enterprises.This paper takes the form of case study to analyze the influence of the government audit stationed in the central enterprises.First of all,based on the theory of accountability,the state governance theory and the theory of power supervision,the concept of government audit stationed in central enterprises,the main audit content of the central enterprises and the general results of the audit conducted a theoretical overview.Secondly,selection of Aerospace Science and Industry Group as a case study,the development course and basic situation of Aerospace Science and Industry Group are briefly introduced,referring to the financial revenue and expenditure audit results announcement of the Aerospace Science and Industry Group in 2012,described the audit of the government audit stationed in the Aerospace Science and Industry Group briefly,and separately from the group's internal management,information system construction management system,accounting and financial management of the three aspects to analysis the National Audit Office of the group audit of the audit results and penalties.Then,according to the audit results announcement was mentioned in the most frequently and most frequently mentioned in the company where the location of the company is located,selection of Aerospace Science and Industry Group belongs to the Guizhou Space Appliance Limited by Share Ltd and Aisino Corporation and Limited by Share two representative listed companies as the research object,then select the relevant financial data from 2012 to 2014,set in 2012 for the government audit before,2013 and2014 after the government audit stationed,by analyzing and comparing the situation of the group before and after the government audit.And then explore the impact of the government audit stationed in the Aerospace Science and Industry Group after its production and operation and its results.In addition,we take the regional as the basis,select the same year is not audit of the central enterprises listed companies,Beijing Aritime Intelligent Control Limited by Share Ltd as control company.Compared with the audit of the central enterprises and the central enterprises did not audit the difference between the operating conditions of the production and operation,and then fullydemonstrate the positive impact of the government audit stationed on the central enterprises.Research results show that: The government audit makes the group's management fee rate significantly reduced,asset turnover was increased,because of the two kinds of financial indicators can be used as an alternative indicator of agency costs,this means that the government audit can reduce the group's agency costs;Although the National Audit Office of the group audit's over investment inhibition is not significant,but it significantly inhibited the situation of the group's lack of investment,overall,the presence of the government audit has improved the efficiency of the group's inefficient investment;In terms of the government audit stationed in group's operation achievement,the group's incumbency consumption behavior has improved significantly,the quality and quantity of group revenue were increased significantly,the profit increases significantly and earnings per share growth accelerated smoothly,National Audit Office's audit work on the group's financial revenue and expenditure,significantly enhance the group's production and operating results.Finally,three important conclusions and two revelations are drawn: Government audit by virtue of its regulatory functions will have a positive impact on the central enterprises,by promoting the reduction of the central enterprises in incumbency consumption,the improvement of income and the profit and so on to improve the efficiency of the management of the central enterprises;with the National Audit Office of the central enterprises to review the internal control and related violations of the punishment and other central enterprises to promote the management level;through the National Audit Office of the central enterprises of the financial revenue and expenditure to give accurate,truthful disclosure,reduce the information asymmetry of the central enterprises,reduce investment risk and adverse selection,and thus promote the central enterprises to reduce the efficiency of investment.Thus it can be seen,the government audit can be promote the healthy and sustainable development of the central enterprises.In addition to promote the further development of the central enterprises,maintain the national economic development order,the National Audit Office can appropriately continue to increase the strength of the government audit,specifically,can be appropriate to increase the central enterprises to implement the national macroeconomic policy audit,to protect the central enterprises have always followed the national line does not deviate;increase the operating performance of the central enterprises audit efforts to preserve and increase the value of state-owned assets;increase the efforts to reveal and investigate violations of law and discipline in order to play a warning and prevent the occurrence of such acts;increase the internal control ofthe central enterprises audit efforts to protect the normal operation of the internal control system of the central enterprises.As far as possible,the National Audit Office should also improve the timeliness of the audit results announcement so that information users can understand the situation of the audited company in a timely manner,to avoid unnecessary losses.In addition,we can integrate the government audit social audit and internal audit of the three major audit resources,in order to give full play to the effectiveness of the audit,reduce the audit risk of the central enterprises,improve the efficiency of the audit of the central enterprises.