Research On The Mechanism Of Performance Auditing Of PPP Project In China

2015, was known as the "PPP, first year of development", the State Council and related ministries vigorously promote the collaboration between Government and social capital(PPP) mode, and intensively introduce a series of policies to establish a PPP project library. Local governments also proactively take a few follow-up steps, and introduce various types of PPP projects for public infrastructure and services. With a new model of public goods and services supplied, advanced foreign experience has proven its important advantages in enhancing the efficiency of infrastructure construction, governmental governance, and finances utility. For China, it's more important to promote supply-side structural reform, accelerate the process of urbanization, stimulate the vitality of the market, and promote the government decentralization.The essence of PPP determines its development has to depend on the coordination of concrete top-level design. Currently, there are many PPP supervision systems with respective drawbacks, such as the absence of PPP audit oversight. The ultimate goal is constructing PPP project performance audit mechanisms in our country to supplement and improve the supervision system of PPP projects, provide a practical basis for government auditing agencies to conduct PPP audit in our country, and realize "value for money" of PPP projects.This thesis firstly take a literature review, which combines research status of PPP mode, the performance audit, audit mechanism and PPP audit, then, defining the connotation of PPP performance audit, and analyzing the PPP project performance audit motivation by the theoretical basis, including the stakeholder theory, public goods theory and public finance theory, accountability theory, and principal agent theory. Afterward, analyzed the current situation and problems of public investment projects performance audit mechanism in China, obtained and drew inspiration from the research and practice of the PPP project performance audit mechanism in United Kingdom and India, and domestic and foreign cases.Finally, completed the construction of PPP projects performance audit mechanism in China, which consists of three parts:(1)Commissioned mechanism. PPP project performance audit commissioned by the government, implemented by the government audit authority to PPP project company and related subjects;(2)Implementation mechanism. PPP project performance audit expand in accordance with established government auditing procedures, including according PPP projects' investment, risk, social factors determine the audit plan, and establish a government audit agency-based, social auditors and internal audit organization-supplemented audit resource system, in the PPP project's whole life cycle from project identification to handover, expand performance audit accordance with auditing standards and performance indicators;(3)Information delivery mechanism. According to information delivery program, including the audit information collection, processing, analysis, use, and output, through on-site audit of the implementation system(AO) and the security client systems, project execution management system, audit management system(OA), audit analysis systems, audit data center, PPP projects' information will be integrated into the final audit opinion passed on the project stakeholders, including the government, the social capital, project participations and public and so on.