Research On The Risk And Prevention Of Government Industry Fund Audit

Since the "Twelfth Five-Year Plan",China has upgraded the support of strategic emerging industries to the important strategic objectives of economic and social development.Financial departments has tried to use the market-oriented methods such as government industrial funds to support the industry and guide social capital to the financial sector.Government capital and government credits spur the optimal allocation of social capital.However,with the development and marketization of the national economy,the increase in the volume of government industrial funds has also exposed more and more risks,excessive government intervention,lack of professional decision-making,investment decentralization,Financial funds rigid redemption,etc.In contrast,the overall audit of government industrial funds is still small,especially for some large provincial and national government industrial funds.The local audit bureau lacks the authority and resources for auditing,and although the auditing agency directly has the auditing authority,due to the heavy overall auditing task,the Audit institution lacks due attention.In addition,government industrial fund audit generally does not establish a separate projec,but often appear as a sector in the audit of financial funds and economic responsibility audits.Under such a background,the state needs to increase the audit work on government industrial funds and pay attention to the prevention of auditing risks and improve the auditing quality,reflect and reveal the risk points and weak links in the establishment,use and management of government industrial funds,thus ensuring the standardized operation of government industrial funds and effective use of national assets.Based on the Economic accountability theory,Risk management theory and PDCA cycle management theory,this paper expounds the development status,organization modes and operational risk of government industrial funds,and explore the reasons that lead to the audit risk of government industrial fund.The reasons include: insufficient pre-trial risk assessment,lack of guidance in the audit program,pressure on audit work evaluation,resource constraints and unsound audit basis of government industry funds.combining with the corresponding industry fund audit cases,the paper analyzes the measures of prevention and control risks in the audit process and the potential audit risks.At the end of the paper,based on the PDCA theory,it puts forward suggestions for preventing audit risk in the audit process of the industry fund: Strengthen pre-trial risk assessment of industrial funds,insight into the entry point of the industrial fund characteristic and transformate implementation plan,improve the construction of the financial audit talent team,establish a normalized evidence collection mechanism,adjust the performance evaluation system,build the audit cooperation mechanism,and issue the Industrial Fund Law as soon as possible to regulate the industry funds performance evaluation,etc.Through the combing of the current mainstream audit risk research literature,the article finds that most of the national audit risk research mainly stays at the system level,and often lacks targeted research on specific audit project types.Even with the study of audit risk for specific audit project types,the scope of the study is very limited.Based on the development status and characteristics of government industry funds,this paper studies the audit risk and prevention of government industrial fund audit projects,and puts forward some suggestions,which has certain theoretical value.In addition,most of the audit risk prevention research analysis and division are based on the the subject or process.This paper analyzes the government industry fund audit risk by combining examples,and combines PDCA theory with comprehensive audit risk management to innovate the perspective and ideas.It is of practical significance to develop new ideas for subsequent research and to promote the high-quality development of audit coverage.