Research On Follow-up Audit Of PPP Project Of LM Expressway

As China’s local government debt continues to break new highs,the central government continues to issue documents emphasizing the supervision of government investment projects.Government investment and construction projects begin to find another way out,and PPP（cooperation between government and social capital）mode is introduced.Subsequently,the PPP model has been vigorously promoted and widely used in various public goods or services.As of June 30,2021,the total amount of warehousing projects has exceeded 15 trillion yuan.Its vigorous implementation can indeed help the country alleviate the pressure of social financial funds,but due to its rapid development,problems such as the government’s excessive transfer of profits to social capital or minimum guarantee commitments began to surface gradually in the process of implementation.Therefore,how to strengthen the government’s supervision and management of PPP projects,ensure the healthy and stable operation of PPP projects,speed up the provision of public goods needed by the society,and improve the happiness index of the masses is an urgent problem for audit institutions at this stage.From the perspective of government audit,this paper takes literature research and case analysis as the research methods,takes PPP law and system development as the institutional background,takes risk management theory,fiduciary responsibility theory,value for money theory and stakeholder theory as the theoretical basis,and writes according to the idea of finding and solving problems.Firstly,based on the full reading of relevant materials,this paper uses the method of literature analysis to summarize the research of scholars in PPP projects and follow-up audit,and sort out the development of relevant systems.Then it introduces the implementation status of PPP project and the implementation procedure of follow-up audit of PPP construction project.According to the whole life cycle of PPP project,this paper divides the follow-up audit of the project into identification,preparation,procurement,implementation and handover stages,and tries to extract the risk points affecting the implementation of PPP project in each stage to form the focus of follow-up audit.On this basis,the LM Expressway PPP project is selected as the research object to track and audit each stage of the project.Through the detailed analysis of the follow-up audit results,four problems existing in the follow-up audit process are summarized: first,the legal basis of project follow-up audit is insufficient;Second,the project follow-up audit intervention time is late;Third,the content of project follow-up audit is incomplete and the focus is not comprehensive;Fourth,the number and competence of project tracking auditors are insufficient.Finally,combined with the research conclusions,this paper puts forward some suggestions,such as establishing and improving the legal system of PPP project,timely planning,timely intervention in key links,clarifying the tracking audit objectives,improving the audit focus,strengthening the training of audit talents and building a diversified team.At the same time,it has reference significance for audit institutions to implement the follow-up audit of PPP construction projects,and also helps to promote the renewal and development of the concept of follow-up audit of domestic PPP projects.