Tracking Audit Research On PPP Project Of Ecological Town In X County

As a new strategy for the country to promote economic development,the development of PPP projects is characterized by large scale and rapid trend in China.The PPP model is not only conducive to alleviating the government's debt pressure,but also making up for the government's insufficient investment in public facilities and services.It is conducive to revitalizing social capital,promoting rational allocation of resources,and improving the efficiency of public infrastructure and services.However,due to the long construction period,huge investment volume and complex relationship of participating parties,PPP projects in China have many problems in the development process.For example,the lack of risk awareness and the misplacement of supervision result in the declining investment income.Besides,that private capital ignores social benefits leads to project quality problems.Auditing is one of the important means of national governance.It can supervise and control the whole life cycle of PPP projects,thus effectively promoting the project's operation.However,China is still in the exploration stage of PPP project auditing,lacking a systematic and complete PPP project auditing norm system to guide specific practices,and the auditing function is not fully utilized.This paper combines the specific case of PPP project of Ecological Town in X County to conduct follow-up audit research.Firstly,this paper expounds the principal-agent theory,the incomplete contract theory and the value-for-money theory,and lays a theoretical foundation for the tracking audit research on PPP projects.Next,the case of the tracking auditing of the PPP project in the ecological town will be introduced in detail.Besides,through the analysis of the case,this paper finds that there are five problems,such as unreasonable allocation of audit resources,unclear audit target positioning,inadequate audit focus,irregular audit program implementation and inadequate implementation of audit results.Then,from the levels of regulations,auditors and PPP projects,this paper conducts targeted analysis on the causes of problems.Finally,in view of the existing problems,five countermeasures suggestions are proposed.Optimize audit resource allocation,including ensuring sufficient equipment for auditors,and improving the overall competency of the audit team.Establish audit objectives through a comprehensive analysis of risks,including establishing overall audit objectives through a holistic risk analysis and establishing specific audit objectives through specific phase risk analysis.Grasping the audit focus according to the audit objectives,including grasping the overall audit focus according to the overall audit objectives and grasping the audit focus of the specific stage according to the specific audit objectives.Standardize audit procedures from the regulatory and practical levels,including improving PPP tracking audit regulations and combining audit focus to standardize audit procedures.Improve the audit result guarantee system,including improving the audit result announcement system and audit accountability system.Through the research on the tracking audit of the PPP project in the ecological town of X County,the effective supervision of the PPP project is realized from five aspects: audit resource allocation,audit target positioning,audit key focus,audit procedure execution and audit result implementation.At the same time,it provides reference for the development of other PPP project tracking audits.