Bids invited to audit overseas assets
Print Edition
CHINA’S state assets management authority is inviting third-party agencies to audit overseas assets of central government-owned companies after a former official of audit office recently said they were not audited.
The State-owned Assets Supervision and Administration Commission opened a bidding for seven auditing projects of assets of central government-owned companies, three of which are overseas assets.
The commission will pay a total of 46 million yuan for auditing the overseas assets, according to a statement posted on the commission’s official website yesterday.
It did not specify what assets were involved in the parcels.
The statement came two weeks after Dong Dasheng, former deputy head of the National Audit Office, said overseas assets of central government-owned companies were not audited.
The size of such overseas assets is estimated to exceed 4 trillion yuan as latest official data showed overseas assets made up of 12.5 percent of the total 35 trillion yuan central government-owned company assets by the end of 2013.
Overseas assets held by state-owned enterprises, including central government-owned ones, has not been strictly audited but overseas investment has been reviewed by the National Audit Office.
In 2013, an NAO report said some SOE investment are prone to insufficient risk evaluation and poor management.
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