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China's "Auditing Storm"

Officials at dozens of central government departments and other state organs reported paying salaries to non-existent workers, embezzled cash, or diverted money meant for flood protection facilities to commercial activities, bilking the country out of billions of yuan, according to Li Jinhua, auditor-general of the National Audit Office.

File photo of Li Jinhua, auditor-general of National Audit Office.The National Audit Office (NAO) is reportedly going to audit all central government offices, Communist Party of China departments and public institutions after it disclosed widespread misuse of funds by public institutions.

Latest Report

Audits to be tightened to reduce waste, loss (4/1 08:51)
China will speed up cost-effectiveness audits to rein in the waste of resources, though achievements have been made in budget audit over the past few years, Li Jinhua, the nation's top auditor has said.

US$35.8b of funds abused this year (27/12 17:07)
In the first 11 months of this year, Chinese auditors have discovered illegal abuse of 290 billion yuan (US$35.8 billion) of government funds.

Misused funds total nearly 300b yuan (27/12 17:15)
Chinese auditors uncovered the misuse of 290 billion yuan ($36.3 billion) in government funds in the first 11 months of the year and promised to investigate three state banks for wrongdoing by staff members, officials said yesterday.

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