Research On The Emphases Of PPP Project Audit Based On Risk Control

Since 2015,the growth rate of China’s economy has slowed down noticeably.Meanwhile,investment in real estate and manufacturing industry has decreased continuously.Due to the sustained and rapid growth of China’s economy during the prior period,local governments are struggling with dilemma of debt accumulation and huge financial gap.In the context of the new normal economy,NDRC has launched large-scale infrastructure investment projects.In order to change economic growth mode from high-speed growth to high-quality growth,the central and local governments are attempt to push PPP mode.At the end of 2015,the Central Committee released documentation outlining its economic philosophy: proceeding further strengthening audit work,fulfilling the responsibilities of audit and supervision in accordance with the law,and conducting full audit coverage of public funds,state-owned assets and resources.Therefore,audit problems of PPP project have aroused wide attention.Because of characteristics from PPP project,such as great investment,large numbers of participants,huge construction difficulty and long span of time,once the risk occurs,it is likely to lead to the failure of the whole project.As a part of the national regulatory agency,the National Audit Office has the obligation to play the "immune system" function to protect PPP project from any public interest loss.In the current situation of which government audit resources are precious,to improve the efficiency and effectiveness of audit,we need to dig out what is the key point to conduct an audit of the PPP project.Based on above,this paper starts from the perspective of project risk control,and pay attention to the key points of audit.By reading the literature,collecting and screening the previous failure cases of the PPP project and summarizing the risk factors that lead to the failure of the project,standing on angle of the risk control of certain project,for each risk factor,put forward that the audit department should pay attention to all stages of the project in the audit aspects.at the same time,summarizing the frequency of various risk factors in various fields,and putting forward the conclusion that the key audit points should be determined according to the high frequency risk in various fields.Finally,the summary of the key audit points is applied to specific cases.Compared with the existing research,the bright spot in this paper is to research on the key audit points of the PPP project according to the risk factors.This paper can broaden the idea of providing some suggestions for the PPP project and improve the system of audit in our country standard,in order to help the government audit department with integrating of audit resources,improving the audit quality of PPP project and making the project smoothly succeed.