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Chinese government auditing: audit storms, institutional arrangements, and audit independence

Xiao, Jason Zezhong, Yang, Suchang and Zhang, Xinmin 2010. Chinese government auditing: audit storms, institutional arrangements, and audit independence. Presented at: 2010 American Accounting Association Annual Meeting, San Francisco, CA, USA, 31 July - 4 August 2010.

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Abstract

Since 1999, a series of Audit Storms have swept China, in which the National Audit Office has regularly exposed the wrongdoings of government agencies. In light of the Audit Storms, we investigate whether there is still a need for reforming the Chinese government auditing system (GAS) through a questionnaire survey. We analyze the orientation, advantages and disadvantages of the GAS and test the impact of the internal auditing characteristic of the GAS on audit independence and audit reporting, especially in the special case of budget implementation audit (BIA). We also examine how the resultant problems in BIA affect the budget supervision role of the people’s congress. The findings suggest that there is still a need for reforming the current GAS because the Audit Storms could not overcome such inherent institutional weaknesses as lacking audit independence and transparency.

Item Type: Conference or Workshop Item (Paper)
Date Type: Completion
Status: Unpublished
Schools: Business (Including Economics)
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HF Commerce > HF5601 Accounting
Uncontrolled Keywords: Accounting
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Last Modified: 04 Jun 2017 03:45
URI: http://orca.cf.ac.uk/id/eprint/26109

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