Research On The Optimization Of Tracking Audit Of PPP Project

In recent years,the total number of PPP projects in China has been explosive growth.However,while PPP has made great promotion,there have also emerged such alienation and generalization phenomena such as random planning,unreasonable risk allocation,open-ended real debt and disguised government.Each pattern and system all needed strong regulatory mechanism to ensure and implement.Effective regulatory measures are essential for the smooth operation of PPP model.PPP projects are mostly large-scale infrastructure or public service projects,the financing structure becomes elaborate,which also poses a challenge for supervision and audit.In practice,there is a lack of institutional framework and normative guidance on whether auditing institutions should intervene in PPP projects,or how to audit.The practices in different areas have not yet been unified.There is no standard for auditors to abide.The stage of project identification,preparation and transfer belongs to the vacuum zone of audit supervision.With the call of "Full Audit Coverage" policy,the implementation of tracking audit is gradually promoted in construction projects.PPP projects are operated as a new mode.There are differences with traditional government-invested construction projects in project participants,financing structure,operation cycle,stage division,performance objectives and other aspects.It also means that the tracking audit method which applied to traditional construction projects is inevitably inapplicable to PPP projects.Therefore,it is necessary to study the implementation method of tracking audit of PPP project.The research on tracking audit of PPP project strategy can provide the implementation method for the specific work of PPP project tracking audit.The research findings can make great significance to the standardized operation of PPP project.This paper uses the method of literature research and case analysis to study tracking audit strategy of PPP project.Firstly,on the basis of intensive reading and summary of a large number of documents,it defines and analyzes the relevant concepts and characteristics of PPP project tracking audit,then using principal-agent theory,stakeholder theory and "immune system" theory to analyze PPP model and tracking audit,and summarizes the related outlines of PPP project tracking audit studied in this paper.After defining the concept and characteristics,we further verify the impact of tracking audit on the realization of the essential purpose of PPP projects.Secondly,taking the current authoritative data and industry status asa sample,this paper summarizes the implementation status of PPP projects in China,regards tracking audit as a necessary regulatory means to explore its operation coverage in the process of PPP project supervision,and then excavates the problems of tracking audit in the practice of PPP project supervision.Finally,the paper chooses the real and representative municipal engineering project,tracking audit process of H city underground comprehensive pipeline PPP project as the case analysis object,and analyzes its tracking audit scope,objectives,resource allocation,audit intervention process,audit content at all stages and so on,finding out the existing problems and analysis their reasons,finally put forward suggestions to improve the PPP project tracking audit strategy.The research shows that tracking auditing is of positive significance to the smooth operation of PPP projects.Its rational application can meet the dual needs of supervision efficiency and effect,and should be widely implemented and fully implemented.Auditors' perception of PPP model,change their thinking of tracking audit,establish the overall audit objectives of PPP project based on the whole life cycle of PPP project,pay attention to and ensure the follow-up audit intervention in the early decision-making stage,consciously forward the proportion of audit resources allocation,and reduce the state capital caused by decision-making errors.The risk of production safety lays the foundation for the smooth progress of PPP projects.Finally,based on the above conclusions,this paper puts forward suggestions for the improvement of tracking audit of PPP project's based on the six elements of audit subject,audit objective,audit focus,audit human resources,audit results and audit evidence acquisition.At the same time,it puts forward some measures at the national level,including perfecting the legal basis of PPP project tracking audit,establishing the announcement system of audit results,to provide legal and institutional basis for the effective implementation of the above recommendations,to provide certain thinking direction for solving the common problems of tracking audit of PPP project at the national level,and to provide some reference to amend the relevant laws and regulations.