The National Audit Office will focus this year on government budget implementation, the fiscal status of financial institutions and a number of key State-owned enterprise, according to sources at a national-level work conference held on Wednesday in Xiamen, Fujian Province.
The auditors will also monitor the handling of funds at some welfare and aid foundations as well as some important road construction projects, continuing to identify major irregularities and economic crimes with regard to the implementation of the budget and the use of funds in these sectors.
This year, the audit office will check the expenses and income of the China Banking Regulatory Commission (CBRC) and the liabilities of the Agricultural Bank of China, as well as the fiscal status of 11 key state enterprises and their top management.
An "audit storm" swept over China last March, when Auditor-General Li Jinhua revealed the misuse of huge amounts of funds at some government departments to top legislators. Li's findings have led to growing public concern over and scrutiny of government efficiency and the discipline of public employees.
The state auditors examined 95,000 domestic institutions from January to November last year, discovering evidence of 1,165 economic crimes. When misappropriated funds are returned and false financial information is corrected, the government stands to recoup some 24.5 billion yuan (US$3.0 billion).
(China Daily January 7, 2005)
