Research On Collaboartive Audit Governance Of PPP Project Risk From The Perspective Of Life Cycle

Public-Private-Partnership(PPP)refers to a partnership cooperation which forms based on concession agreement between the government and the private sector,in order to provide some public goods and services.In recent years,in the process of deepening the reform of the domestic investment and financing system,the government constantly promotes the Public-Private-Partnership model to provide infrastructure and public services.There have been a large number of PPP projects landing and implementing.The PPP projects have a large investment,a long cycle and a wide range of influence,and there are many other operation model alternative.In addition,the relationship between the participants is complicated and the interests of them in project are different.These features make many risks worthy of attention in the PPP project implementation process.The theory of collaborative audit governance has a strong applicability for the risk management of PPP project in the whole life-cycle.This paper aims to build PPP project collaborative audit governance model for achieving the PPP project life-cycle risk management from the perspective of PPP project's life-cycle risk performance and characteristics.By referring to a large number of domestic and foreign literature to clarify the connotation,characteristics and operation model of PPP project,the project of investment and financing based on generalized PPP model is determined as the research object of this paper.Firstly,this paper elaborates three theoretical basis of synergy theory,auditing theory and governance theory and explains the relationship between the three theories,that is,synergy is the goal of auditing and governance,while audit is a means to achieve synergy and governance.Then,this paper constructs PPP project risk analysis framework based on the Hall three dimension structure model,and from the time,logic and knowledge dimension describes the risk types and the effect of risk to various stakeholders during three stages of PPP project.The four characteristics of risk are summarized: complexity,relevance,periodicity and dynamic.Next,this paper puts forward a collaborative audit governance model for risk management of PPP projects.This model takes the whole life-cycle of PPP project as the main clue,and expounds the key points,the subject and object,kinds of methods and the contents of audit in the decision-making stage,construction stage and operation stage.From the three aspects of organization structure,process structure and information transfer structure,the paper puts forward the realization mechanismof PPP project collaborative audit governance.Under the coordination of the collaborative audit governance model and its realization mechanism,a relatively perfect framework for PPP project risk governance is formed.Finally,the paper takes the example of the expressway from Chongqing Fuling to Fengdu project.It presents more distinctly that the collaborative audit governance model how to apply to the risk management of PPP projects.That provides practical experience for the theoretical model.The main purpose of this paper is From the perspective of life-cycle,this paper constructs the cooperative audit governance model of PPP project,which can coordinate all kinds of audit resources of the different audit subjects in each stage of the project,to complete risk supervision and governance of PPP project.The research of this paper is still in the theoretical stage,and has not carried out the research in the practice level and data level of PPP project audit,which is the future research direction of PPP project audit.