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Shanghai auditors uncover malpractices
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SHANGHAI’S audit bureau found irregularities in 938 projects last year and prevented more than 8 billion yuan (US$1.2 billion) in losses.
Tian Chunhua, the head of the Shanghai Audit Bureau, said yesterday that the bureau also discovered 2.08 billion yuan worth of false claims of investment in 2015. Tian said his bureau would step up inspection of state-owned assets and public funding.
The 938 projects involved public funding, state-owned assets and economic responsibilities of government officials. It handed 51 cases to law enforcers.
Yang Xiong, mayor of Shanghai, said the irregularities included unauthorized lending by state-owned enterprises, construction of private venues using public funding by district governments, and excessive allowances for public sector staff.
Yang said the auditing bureau should have greater independence and authority to act as a “woodpecker” in inspecting the actual implementation of government policies.
Its key activities will include improving internal risk control of SOEs, highlighting inspection on the use of public funds, preventing extravagance, and stepping up power control of government units.
The bureau will also inspect government debts, bank credits, innovative financial services, and environment protection investment.
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