Research On Audit Risk Of State-owned Enterprises' Overseas Investment

Since the party's 18 th National Congress,along with the promotion of the “One Belt One Road” strategy and the adjustment of the industrial development strategy,the foreign investment of state-owned enterprises has been developing rapidly and the scale has been increasing year by year.However,there are too many abortive cases on newspapers,and corruption also happens from time to time in overseas investment.The government audit,which is one of the important supervision measures,should have played an important role in overseas investment supervision of state-owned enterprises.However,in recent years,the overseas investment audit of state-owned enterprises has performed unfavorably or even left blank.With the continuous expansion of the scale of foreign investment by state-owned enterprises,the state will pay more and more attention to overseas asset auditing,and overseas asset auditing operations will continue to expand.This article plans to research the audit risk of state-owned enterprises' overseas investment on the angle of government audit.And trying to study the following questions: First,what is the audit risk for state-owned enterprises' overseas investment? Second,how to identify the material misstatement risk of state-owned enterprises under the risk-oriented audit model? Third,how can we reduce audit risk of state-owned enterprises' overseas investment?Focusing on the above issues,based on the results of previous studies and combining with the function of government audits,this paper try to define the overseas investment audit and the audit risk of overseas investment;and on this basis,it thoroughly analyzes the audit risk of state-owned enterprises' overseas investment.Based on the modern risk-oriented audit model,I reconstruct the risk model suitable for the research purpose of this paper.It further analyzes the various influencing factors of audit risk under the model and we can accurately identify the risk factors.Based on theoretical analysis,the paper adopts the case analysis method,taking the overseas investment auditing project of the Yunnan Provincial Audit Office as an example,and combine with the risk model to analyze the related overseas investment auditing risk involved in the case.Finally,in order to ensure the preservation and appreciation of foreign state-owned assets,I put forward measures to prevent the audit risk of state-owned enterprises' overseas investment:First,overseas investment auditors should evaluate auditing risks carefully and should implement appropriate auditing procedures.At the same time,the auditing agencies should pay attention to the training of overseas investment auditors.Second,state-owned overseas investment companies must establish and improve their internal control mechanisms and attach importance to the selection of responsible persons for overseas investment projects.Finally the government auditing agencies should strengthen the audit of the performance of the supervisory functions of investment supervisory agencies and strengthen the audit of the management of overseas investment projects by state-owned enterprises.