Heilongjiang Province Debt Audit Of Local Government Financing Platform

After the end of2008, since the international financial crisis, the government in order to stimulate economic development, announced a$4trillion investment, these measures enable the rapid development of local government financing platform, began to enter a stage of rapid expansion. According to the Central and the State Council, the Audit Commission in August2013to September, local government debt nationwide conducted a comprehensive audit. Audit results show that as of the end of June2013, China’s total provincial, municipal and county governments to establish local government financing platform for7170, total government debt financing platform6.970442trillion yuan, accounting for46.29percent nationwide local government debt balance. During the audit, we found that the prevalence of local government financing platform following issues:security breaches, illegal issuance of bonds, debt too large, the operation is not standardized, and poor profitability. Local government financing platform to generate a lot of debt risk, therefore, how to play the role of good government debt audit, risk prevention and control of the outbreak of the debt, the current theory and practice of the hot issues of great concern.In this study, the local government financing platform debt as a starting point to explain the meaning of government financing platforms, features, operation mechanism and effect. Supplemented by economic man hypothesis, principal-agent theory, the theory of economic responsibility entrusted theoretical foundation and government debt theory. Analyzes the current situation of local government financing platform debt Heilongjiang audit, the audit proposed debt problems including debt audit is insufficient, goal setting is not clear, results of the work of transparency, the program is not appropriate, reasonable methods of work due to address these issues to identify the cause of the problem, there are rules and regulations of government financing platform debt audit imperfect, overly reliant on government debt audit authority, the audit results announcement system is not yet perfect, the lack of debt audit in accordance with auditing uneven quality of personnel. Finally, theory with practice, to A City in Heilongjiang Province local government financing platform debt audit for the case of the debt audit objectives and ideas, analysis of specific types of debt audits, content and focus of the debt audit, audit implementation, etc., derived inspiration, proposed a comprehensive audit of debt financing platform in Heilongjiang Province macroscopic and microscopic countermeasures.