| With the steady development of the "Belt and Road" initiative,a large number of state-owned enterprises have gone abroad to carry out overseas projects.As the number of overseas investments by SOEs increases year by year,the problem of imperfect supervision and management system of overseas investments by enterprises becomes more and more prominent.Facing the changing international situation,overseas projects face difficulties and challenges in terms of large amount of demanded capital,geographical distance,differences in knowledge structure and insufficient risk management ability,resulting in high risk of asset loss of SOEs and high possibility of overseas investment failure.In order to promote the development of enterprises abroad,make them better adapt to the development needs abroad,improve their overseas project management and better realize the value preservation and appreciation of their assets going abroad.As the third line of enterprise risk prevention,internal audit should supervise and evaluate state-owned enterprises when they carry out overseas projects.Therefore,it is of practical significance to promote the efficient operation of enterprises’ overseas projects and prevent the risks of overseas engineering projects through the supervision and gate-keeping of internal audit.In this context,this paper discusses and analyzes offshore auditing from an internal audit perspective.The paper emphasizes risk-oriented internal audit,coordinates overseas audit objectives and audit focus,enriches overseas business risks and improves internal audit theory.The paper analyzes and discusses the current situation of overseas business management of state-owned capital under the "Belt and Road" initiative,and compares the differences and risks faced by enterprises in their overseas projects,and conducts research based on the principal-agent theory,synergy theory and the new "three-line model".Through interviews with the offshore auditors of the case company,we explore the development of the offshore business of the case company,the risks and countermeasures of the offshore projects,and the workflow,key points and specific work contents of the internal audit of the offshore projects of the case company.From the perspective of the "third line" of risk management,we analyze the practical experience and causes of the problems in conducting offshore audits.From the organizational internal audit level,we propose to focus on building a composite audit team with a wide range of specialties and diverse knowledge,promote the exchange of experience in offshore audits among the horizontal units,and strengthen the audit of offshore projects from decision making to bidding to implementation.It provides a reference for overseas audits of relevant enterprises in China,with a view to providing audit technology support for internal audit practices of state-owned enterprises and preventing management risks to avoid loss of corporate assets. |
