PPP Project Phase Tracking Audit Research

Under the background that local debt has reached new heights and the central government continues to strengthen management and control,the construction of infrastructure has to find a way out.PPP(Public-Private-Partnership,cooperation between the government and social capital,abbreviated as PPP)has become the hot spot of the moment.Due to the lack of effective supervision,problems such as the illegal appropriation and appropriation of funds during the implementation of the PPP project,the reduction of construction costs to improve their own efficiency,investment income and design run counter to other issues.It is urgent for the state to issue relevant policies to resolve the problems and to regulate PPP supervision to regulate its operation.However,due to the large scale of investment,long recovery period,numerous associated parties,and inconsistent interest claims,PPP projects are no longer suitable for traditional audit methods.We need to change audit methods and evaluate audit priorities to reconstruct audit methods to suit PPP project audits.First of all,this article defines concepts related to research,including the PPP model,follow-up auditing,and discusses the theory of value for money,principal-agent theory,and incomplete contract theory involved in research;secondly,the characteristics and implementation of PPP projects in China.The status of the audit is analyzed,and it is necessary to know the necessity of auditing the PPP project;again,this article selects a PPP project that is typical and representative in terms of investment scale,industry,and construction content as the research object,analyzes the case overview and focuses on the project.Do related risk assessments;Finally,track the project identification phase,preparation phase,procurement phase,and execution phase before the project is transferred,find key audit points to determine the key links for audit,form an audit plan,and promptly discover that the project is advancing.Various problems that may exist in the process help the government to manage and control risks during project implementation and ensure the good operation of the project.The research shows that government audit is the mainstay of PPP project auditing under the complete audit coverage;auditing PPP projects is a necessary means to standardize the operation of PPP projects;tracking audits of PPP projects can disguise the financing of “real-denominated stocks” and other places.Debt risks are dynamically guarded;tracking and auditing PPP projects can prevent social capital from excessively pursuing economic benefits,and reduce the occurrence of construction quality in a timely manner.Tracking audits of PPP projects has both social and economic benefits.Based on the above conclusions,in light of the current status of China's PPP projects,the paper proposes that the government should strengthen the effective supervision of PPP projects from the following aspects: improve relevant laws and regulations,increase the examination of preliminary projects,and improve the professional quality of auditors.Improve the exit mechanism to avoid the frequent occurrence of “government blindness”.It is hoped that the government can provide certain legislative references and program lessons for the follow-up audit of PPP projects,and realize the balance between supply and demand for the construction of public facilities and a better life.