Date
23 October 2017
The sweeping audit of government agencies will target financial assets not reflected in their books. It is aimed at nipping potential malpractice in the bud. Photo: Bloomberg
The sweeping audit of government agencies will target financial assets not reflected in their books. It is aimed at nipping potential malpractice in the bud. Photo: Bloomberg

China sets sweeping audit of government books

China will launch a nationwide crackdown on so-called “small coffer” activities of government agencies as part of a widening anti-corruption campaign.

The audit will target funds, securities and assets of state agencies that are not reflected in their books, the Ministry of Finance and the National Audit Office said in a statement.

Also, government spending on overseas trips, vehicle maintenance and official receptions will be more closely scrutinized.

The move is aimed at nipping potential malpractice in the bud, the statement said.

The audit covers official financial activities from last year to an unspecified earlier date to see if any serious violations have been made.

It will inspect budget revenue management, budgeted spending, conference and training expenditure, government procurement and asset management.

The central government and local authorities will direct the inspections which will be carried out by related regulatory agencies, the statement said.

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JZ/JP/RA

Freelance journalist

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