Research On Government Trecking Audit Of PPP Projects In China

Since 2015,the State Council and relevant ministries of China have vigorously promoted the mode of “Public-Private-Partnership”(PPP)and introduced a series of policy documents in an intensive manner.Consequently,various types of PPP projects and library were launched by local governments mainly in infrastructure and public service.However,there is a clear difference between the audits of PPP and regular construction projects,such as audit methods and/or auditing priorities.This thesis is purposed to construct the auditing framework of PPP project from the government tracking auditing in China.Finally,a practical guidance with complement and improvement for the audit supervision system on PPP tracking auditing was provided.Firstly,this thesis introduced the types,processes and characteristics of PPP projects from the connotation of PPP projects based on the literature reviews of domestic and international PPP model and PPP project audit.Secondly,the theoretical foundation of PPP project is deeply analyzed based on the principal-agent theory,stakeholder theory and value for money theory.This thesis analyzed the specific implementation procedures,risks identification and response of government auditing in foreign PPP projects and provides a theoretical basis through the study of the government auditing and supervision system of PPP projects in UK,India and the INTOSAI auditing standards after the summary of relevant laws and regulations of domestic PPP projects.Next,we constructed the framework of domestic government tracking auditing system and gave proposal in the auditing mode selection and audit process of PPP project audit,with emphasis on value-for-money evaluation and financial affordability evaluation based on the five phases of project identification,preparation,procurement,execution and handover from the audit subject,target,object,scope,risk and response,content and evaluation.Finally,taking Project A as an example,we studied the government tracking audit of the Project A and put forward the research conclusions and limitations of this article focusing on the audit of the bidding process,the audit of financial affordability and the value-for-money audit,and evaluate the government audit of Project A.