A Study On International Financial Institutions Funded Projects Of Yunnan Province In Government Auditors' Perspective

International financial institution loans refer to those applied to infrastructural or social development programs.International financial institution loans serve as an important source of funds for non-profit projects which are designed for public services of Yunnan province.Therefore,these projects are public goods in nature.Issues that haves arisen from public goods cannot be solved by market players but rather by the government.As a governmental organ,Yunnan provincial audit office has conducted auditing tasks on international financial institution loan projects for years for its legal responsibility as well as the embodiment of principal-agent relation established between it and its superior organ,National Audit Office of China.In essence,to solve the issue of information asymmetry in a principal-agent relation of implementation of international financial institution loan projects is a challenge as well as responsibility for governmental audit organs.This paper is to introduce implementation and management of international financial institution loan projects of Yunnan province in recent years,analyze,with SWOT framework,these projects of Yunnan province that have been audited by governmental audit offices and summarize strength,weakness,opportunities and challenge of these projects.Through governmental audits,problems as well as their causes in implementation of these projects have been disclosed and the paper is to finally propose several suggestions regarding execution and management of these projects from a perspective of governmental auditors.