audit

Cabinet Orders Audit of Government Debt

China’s State Council has ordered an audit of all government debt, according to Reuters, a sign that policymakers are concerned with rising debt at the provincial and municipal level amid a slowdown in economic growth: The...

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...

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...

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 […]

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 […]

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 […]

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 […]

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