Research On The Risk Analysis Of Mega Infrastructure Project Under The Continuous Follow-up Auditing

Mega infrastructure project has the characteristics with a large scale of investment,numerous participating units,and a longer duration.The continuous follow-up auditing can be used to supervise the use of funds and avoid illegal or criminal actions in mega projects,which makes it become a hot topic in the research of mega project management.For this method,the current research mainly focuses on the problems in terms of audit technology.However,there are relatively little research in terms of risk management for mega projects.The lack of mechanism study will limit the further application of the audit method in mega project audits.Therefore,the analysis of the role and mechanism of this audit method under the perspective of risk analysis has both theoretic and practice significance of development of theory and application of continuous follow-up auditing.This thesis has analyzed the risk of mega project under the continuous follow-up auditing using agent-principal framework.In the first place,the thesis summarized the researches at home and board which were related to risk management of mega project and continuous follow-up auditing,and introduced the research content of the thesis.Then,the thesis put forward assumptions according to the decision-making process of stakeholders in mega project and constructed decision-making models which has already taken the inspection of continuous follow-up auditing into account of both principal and agents under the framework of agent-principal.Next,under the framework of decision tree in single phase project,calculated the decision-making models of both agent and principal,analyzed the effect of this decision tree on the risk of the project,and found that the auditing inspection could influence decision-making process of the agent,which could reduce the risk of the project.After that,extended single phase into dual phase,analyzed the effect of decisions made in first phase on decisions in second phase,and found continuous followed-up auditing inspection could influence decision-making process of the agent,which could reduce the risk of the project.Moreover,the auditor could achieve an optimal auditing inspection amount by combining its decision-making process with the decisions made by the principal.There are two significance in this thesis.In terms of theoretic,the research in this thesis can provide a theoretical explanation on the role of continuous follow-up auditing in the supervision of mega project risks.This can overcome the theoreticaldeficiency of this kind of audit method in the field of project management.In addition,in terms of practice,the research in this thesis can help the audit department to establish audit strategy of the whole process.