Research On The Impact Of Audit Supervision On Reducing The Risk Of Local Government Debt

At present,the scale of local government debt in China is growing rapidly,and the debt risk is increasingly prominent.The Audit Commission's Announcement No.48 of2018 disclosed issues such as irregularities in borrowing in some areas,inflated financial resources,and misuse of special funds for finance.It also arranged for special personnel to supervise the rectification of audit results,and finally revitalized the stock funds and resolved local governments.Implicit debt.The purpose of carrying out special audit work on the local government debt situation is to transform the party's 19 th National Spiritual Requirements into practical policies and measures to promote the stable and healthy development of the regional economy and social harmony and stability,and thus continuously promote the major national policies.Take root and exert its effectiveness,strengthen and improve people's livelihood,maintain stable economic growth,healthy social operation,and implement the service concept of local governments at all levels in economic and social development.The Audit Commission also increased the debt audit and investigation,reduced the amount of illegal guarantee debts and reduced the debt risk,and guaranteed the economic security of local governments.However,the effect of local government debt audit on local government debt risk control needs further research.In order to finally ensure the smooth and stable operation of China's economy.This paper firstly studies the relevant literatures on local government debts at home and abroad,sorts out the current research status of local government debts,and puts forward the problems of audit supervision on local government debt risks,analyzes research ideas and determines research methods.Secondly,draw on and summarize the existing research results on the local government debt at home and abroad and based on the public trust economic responsibility theory,the audit "immune system" theory,the relevant basic knowledge of information asymmetry theory,the current local government debt The overall scale,risks and causes of it have been studied in depth.Through the analysis of local government debt risk and its causes and the factors affecting local government debt audit,we analyze the local government debts;analyze the causes and characteristics of local government debt and local government debt risks,and impact audits in debt auditing.The efficiency factor points out the necessity of government audit to resolve local government debt risk and regulate local government debt management.By using the independent fixed-effects model of 30 provinces and 5 years,the audit supervision and local government debt risk will be used.Quantitative analysis of the relationship shows that the audit input and the auditing accountability are significantly negatively correlated with the local government debt risk.That is,by strengthening the supervision of the audit and expanding the scope of the audit,it is possible to regulate the local government's financing and borrowing behavior.Reduce the level of local government debt risk.Finally,the countermeasures and suggestions are given from four aspects: strengthening the government's auditing supervision function,establishing and perfecting the audit evaluation system,establishing the government debt risk early warning mechanism,and innovating the government debt financing management mode.