Study On Internal Auditing Of The Chinese Overseas Construction Projects

With the continuous advancement of China's economic internationalization process and the proposal of the “One Belt One Road” initiative,more and more Chinese enterprises have participated in international cooperation and overseas investment activities.As most of the overseas construction projects in China are unstable in the political and economically underdeveloped countries,the external construction environment is more susceptible to external factors than the domestic environment.In addition,the overseas construction projects have long construction time,many construction entities and capital consumption.The characteristics of large scale make the construction risks faced by the construction projects outside China more and more serious.As an effective supervision method for overseas construction projects,internal audit has also attracted more and more attention from companies.Under the circumstance that the risk of construction projects outside the country is uncertain,how to strengthen the internal audit work of overseas construction projects and ensure the normal operation of offshore construction projects is very important.Firstly,This article reviews related research literature on investment risk of overseas construction projects,internal audit and foreign investment risk management,and internal audit of overseas construction projects at home and abroad.and concludes that the development status and existing deficiencies of the internal audit of overseas construction projects;The characteristics and differences in the respective construction projects existed,and the differences in risks faced by domestic and foreign construction projects were compared.Then,we combine the particularities of overseas construction projects with the internal auditing related theories to analyze the characteristics and differences of internal audits of construction projects at home and abroad;Thirdly,according to the difference analysis,the basis,target,scope and focus of the internal audit of the overseas construction project,the audit evidence collection and the audit supervision strength are obtained;Finally,the internal audit practice work of the Pakistani project area of the A construction company was selected as a case.Based on my internship experience and the internal auditing process of the A construction company's overseas construction project,the project in Pakistan was introduced.The implementation of the audit practice work confirmed the effectiveness of the internal audit of the A construction company.However,there are still some problems.Aiming at the problems existing in the internal audit of construction projects of A construction companies overseas,the suggestions for improving the internal auditing work of A construction companies' overseas construction projects are proposed.It is hoped that through the study of this paper,the direction of future development of internal auditing of construction companies in A construction enterprises and preventive measures that can be taken will be clearly defined,so that the internal auditing organization of A construction company can really exert greater effectiveness in the process of auditing supervision of overseas construction projects.