Investigation Report On Management Audit Of Retired Teachers' Subsidy Funds Of State-owned Enterprises Within Yunnan Province

In 2011,State-owned Assets Supervision and Administration Commission(SASAC)issued documents with the Ministry of Finance and the Ministry of Education,decided to subsidize the disparity of retired teachers' treatment of vocational education and preschool education in state-owned enterprises.Due to the wide range and huge amount of financial special funds,it is necessary for auditing to play a supervisory role.To ensure that the management of special financial funds conforms to the regulations.Therefore,Yunnan Provincial Department of Finance in order to know the management situation of subsidy funds about state-owned enterprises and related department about compliance and effectiveness,entrusted accounting firm to audit the subsidy fund for the differential treatment of vocational education and preschool education.we found problems in the management of the subsidy fund for the differential treatment and resulted in better management of the subsidy fund for the differential treatment.This paper was based on public principal-agent theory,new public management theory and prospect theory,reviewed the prior research about financial audit and special fiscal fund audit.Research methods include investigation and interview.We have obtained the audit results of the management of the subsidy fund for the differential treatment in state-owned enterprises in Yunnan Province.Based on the audit focus areas in vocational and preschool education retired teachers,standard of treatment disparity,subsidy funds of treatment disparity,management situation of state-owned enterprises and competent government authorities,the project team conducted audit over the new status of retired teachers,three times adjustment of the standard of treatment disparity and usage of subsidy funds of treatment disparity.We found problems that the identification of retired teachers was not timely,the standard of treatment disparity was not in place,the management of subsidy funds of treatment disparity was chaotic and so on.Offering the suggestion of improving.Combined with audit objectives,audit implementation,audit results and audit findings,from the perspectives of the auditing objectives of financial funds,the absence of supervision over subsidy funds of treatment disparity,and the lack of auditing regulations,we analyzed the reasons behind the above-mentioned fund management problems.In the end,based on the audit project of the management of subsidy funds of treatment disparity,from recognizing the objectives of financial funds audit,choice of audit subject and innovation of auditing way,this paper rethinks audit of financial funds in China.Meanwhile,we tried to provide strategies for fund management department to standardize and strengthen the management of financial special funds,and to provide references for optimizing the audit of financial funds.