Research On Implementation Framework Of Financial Deleveraging Policy Tracking Audit Under The Framework Of "Two-Pillar" Control

Since the financial crisis in 2008,the proportion of China's financial liabilities to GDP has continued to climb,and leverage has become the focus of attention of the whole society.In 2013,the party central government decisively deleveraged the strategic deployment plan.In the following years,China has successively provided guidance on deleveraging.In general,China's macroeconomic leverage ratio has been fully controlled.In 2019,General Secretary Xi Jinping emphasized that we must continue to deepen the structural reforms on the financial supply side and guard against systemic financial risks.Therefore,China has maintained the tone of deleveraging.Audit,as the leader of national economic security,is of great significance in auditing the implementation of financial policies.Based on the macroeconomic situation,this paper clarifies the operating mechanism of the leveraged behavior of the financial industry,tracks down the problems in the de-leveraged financial institutions from the perspective of audit,and advances the implementation of risk prevention policies.By studying the role of the "two-pillar" regulatory framework in preventing and defusing financial risks,this paper finds that under the combined effect of "monetary policy and macro-prudential policy",the leverage of financial institutions can be gradually reduced.Therefore,from the perspective of "two pillars",the implementation framework of the financial deleveraging policy implementation tracking audit is designed.The framework mainly establishes audit indicators from the financial institutions in the implementation of monetary policy and macro-prudential policies.In the implementation of monetary policy,the audit content is detailed into two aspects: the implementation of monetary policy of the basic central bank and the implementation of commercial bank's monetary policy;In the implementation of macro-prudential policies,the audit focuses on whether banks,securities,insurance,trusts and other financial institutions strictly implement the rules and regulations implemented by the regulatory authorities,and whether the evaluation indicators meet the prescribed scope.By comparing the actual audit work of Z audit institution,the problems in the audit were found.Finally,some suggestions are put forward on how to improve the financial deleveraging policy to track auditing,including the promotion of the "two-pillar" regulation of the financial auditing model and the implementation of the dynamic auditing early-warning mechanism in real time.At the same time,it also improves the theoretical system of financial deleveraging audit supervision.The main innovation of this paper is to set up the implementation framework of financial deleveraging policy to track audit under the "two-pillar" regulatory framework to guide the audit work,clarify the audit direction,and improve the audit efficiency.However,due to the complexity of the financial system,the relevance of financial institutions,and the innovation of financial products,it is very difficult to establish a financial audit implementation framework at present,and it also restricts the development of policy tracking auditing.Therefore,it is necessary to carry out exploratory financial deleveraging policy tracking audit framework research to enrich the research content of risk prevention policy implementation tracking audit,so as to continuously strengthen and promote the implementation of financial deleveraging policy to prevent systemic financial risks.