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Audit Procedures
2015-07-16日   Soure : :


Audit procedures followed by government audit institutions in China usually include four steps. They are:

Audit planningan audit institution, in view of the situation of the country and current practice of audit work, prepares a plan for the projects to be audited for certain period of time in order to ascertain audit objectives, missions, priorities and implementation measures.

Audit preparationan audit institution organizes an audit team on the basis of the audit issues specified in the plan for the project to be audited and issues a notification of audit to the auditee three days prior to execution of audit. Under special circumstances, with the approval of the people’s government at the corresponding level, an audit institution may carry out audit right after the presentation of notification of audit to the auditee.

An audit institution at a higher level should prepare an audit work program when authorizing subordinate audit institutions to carry out an audit project in a uniform manner, and each audit team should carry out survey prior to execution of audit and prepare its own audit implementation program.

Audit implementationin conducting audit, auditors obtain testimonial materials through examining accounting documents, account books, financial statements, consulting documents and data in relation to the audit matters, checking cash, material objects and negotiable securities, and conducting fact-findings among the departments and individuals concerned. In accordance with relevant stipulations, auditors compile audit logs and prepare audit working papers.

Conclusion of auditafter conducting audit, the audit team submits its audit report to the audit institution. Before submitting the report to the institution, the team should solicit opinions of the auditee. In accordance with the procedures specified by CNAO, an audit institution issues its audit report after deliberating the audit team’s report and considering the auditee’s comments. Where violations of state regulations on government and financial revenues and expenditures should be dealt with or punished in accordance with law, an audit institution, within its mandates, can make an audit decision or put forward to department in charge its recommendations as to how to deal with or punish the violations.

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