Research On Government Audit Of Investment And Financing Platform Of Xiangtan Industrial Group

Since 2008,the investment and financing platform company has achieved "explosive" growth,and the establishment of the inv estment and financing platform mainly raises funds for local governments for government public utilities.The financing scale of the investment and financing platform continues to grow,raising funds for the development of local public utilities,which pla ys a very important role in promoting the development of local economy and society.However,due to the frequent thunderstorms on the investment and financing platform,As a result,the investment and financing platform continues to trigger a credit crisis.When the profit of the investment and financing platform itself is not enough and the overall scale of debt continues to expand,it indirectly increases the debt of local governments.In addition,the economic development of some regions is poor,and man y local governments may hold a debt scale far beyond their repayment ability,which directly leads to the intensification of local financial risks.In addition to the above problems,In recent years,the frequent occurrence of violations of laws and discip lines by the main principals of investment and financing platforms and the transfer of interests in the bidding field of public construction projects have raised concerns about the development prospects of investment and financing platforms.The government audit of investment and financing platforms is an effective means of supervision and control.A case study of this type of audit project is carried out,It has very important theoretical and practical significance for promoting the development of audit an d investment and financing platform.Based on principal-agent theory,entrusted economic responsibility theory,modern risk oriented audit theory and national governance theory,this paper analyzes the government audit projects of Xiangtan industrial inves tment and Development Group Co.,Ltd.(hereinafter referred to as "Xiangtan industrial group" or the company),Analyze,study and judge the government audit project from each stage of the government audit process.The government audit found that Xiangtan i ndustrial group had problems such as virtual increase in the book value of assets,high debt repayment risk,serious over budget of engineering construction projects,and the bidding of engineering projects did not comply with relevant procedures.Although many problems were found,through analysis,it was found that the government audit project itself also had the following problems: if the plan is not comprehensive,Missing important subsidiaries and branches,not highlighting the key points,not reflecting the main characteristics of the enterprise,unreasonable audit team structure,and it is difficult to implement audit rectification suggestions.Based on practical cases,this paper studies from: achieving full audit coverage in time and space,increasing audit contents such as investment and financing decision-making audit,implementation process audit and post investment management audit,paying attention to audit priorities such as overall debt,transformation and upgrading and profitability of invest ment and financing platforms,establishing a composite audit team,implementing responsibilities and disclosure of audit results,and standardizing audit rectification,Put forward suggestions on building a scientific and reasonable investment and financin g platform and the normalization mechanism of government audit.