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China news tagged with: audit (7)

• China Says Billions Missing From Public Funds

  

  From AFP:

  Over 34.4 billion dollars went missing from public funds in China in the first 11 months of 2009, state media said Tuesday, with national auditors highlighting embezzlement, waste and fraud.

  Over 230 people, including 67 government officials, have been handed over to disciplinary or judicial authorities for their roles in the missing funds, the China Daily said, citing the National Audit Office.

  The audit covered 99,000 companies, government agencies and public institutions across the nation, Liu Jiayi, China’s top auditor, told a national auditing conference.

  » Read more
  • December 29, 2009 4:18 AM

• China Puts Squeeze On Military Spending Abuses

  

  From Reuters:

  Chinese military officials face intensified scrutiny for abusing or mishandling the nation’s fast-rising defence budget, state media reported on Friday.

  The audit rules approved by President and military chief Hu Jintao target senior People’s Liberation Army officers disbursing funds and overseeing big projects and purchases, the People’s Daily reported.

  The report did not specify cases of PLA corruption and waste. But the wording of the rules suggested official alarm.

  “Leading officials who carry out economic responsibilities poorly or who have economic problems should be relieved of their current duties and culpability should be pursued,” state the rules issued by the Central Military Commission.

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  • September 5, 2008 5:11 AM

• Auditors’ Shame File: State Billions Wasted – Lydia Chen

  

  From Shanghai Daily:

  The state audit office has released a scathing report that shows misappropriated government funds totaling almost seven billion yuan (US$932 million) and the mismanagement of more than 37 billion yuan.

  The report, issued yesterday and posted on the Website of the National Audit Office, revealed budgetary loopholes in 49 central departments in 2006, including the country’s top state-owned asset supervisor and the leading economic-planning body. [Full Text]

  » Read more
  • September 20, 2007 8:45 AM

• Chinese Auditors Say Three Gorges Dam Project Mismanaged – Thomson Financial

  

  After the National Audit Office found out misused $1.9 billion in pension funds and other government money , NAO also figured out the China’s Three Gorges dam has mis-management problem. From Forbes.com:

  A six-month investigation into the bill for China’s huge Three Gorges dam has unearthed widespread mis-management, state-run news media reported.

  The official Xinhua news agency said the National Audit Office had detected extra construction costs of 488 mln yuan, most of them attributable to contractors that exaggerated their expenditure.

  » Read more
  • July 1, 2007 12:06 PM

• China Audit Finds $1.9B Embezzlement – Associated Press

  

  From Businessweek:

  Auditors have found Chinese officials stole or misused $1.9 billion in pension funds and other government money, a state news agency quoted China’s chief auditor as saying Wednesday.

  Cases uncovered in the latest investigations stretched back to before 2000, Auditor General Li Jinhua said in a report to China’s legislature, according to the Xinhua News Agency.

  The misused or stolen money included $930 million in pension and social welfare funds, Xinhua cited Li as saying. It gave no details of who was accused of stealing money or whether it was recovered. [Full Text]

  Here is a list of the amounts embezzled (from the Auditor General’s report to the legislature, translated by CDT):

  » Read more
  • June 27, 2007 1:12 PM

• China audit uncovers corruption – BBC

  

  From BBC:

  Chinese government officials lost more than $1.5bn (¬£800m) last year through corruption and poor tax collection, China’s National Audit Office has said.

  State news agency Xinhua said the office found that 48 central government departments misappropriated 5.51bn yuan from the central budget.

  Another 6.65bn yuan was lost through poor tax collection methods. [Full Text]

  » Read more
  • June 28, 2006 6:21 AM

• People’s Daily: Chinese auditors find 9.06 billion yuan in misappropriated funds

  

  From People’s Daily:

  China’s National Audit Office (NAO) found misuse of funds totaling 9.06 billion yuan (about 110 million US dollars) in 38 government departments in 2004.

  The figure represented six percent of all the funds put under audit, NAO auditor-general Li Jinghua said Tuesday in Beijing when delivering a report on the performance of the central budget in 2004 and audit work of other fiscal revenues and expenditures to the Standing Committee of the National People’s Congress, China’s top legislator.

  See also “4.9 bln yuan for water conservancy misused in 2004, audit report says” from People’s Daily.

  » Read more
  • June 28, 2005 5:47 PM

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