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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (4335)	2/4/2005 1:31:09 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

All gov't audits to be made public from 2008 (Xinhua) Updated: 2005-02-04 15:42 All Chinese government audits, including those of financial institutions and banks, will be made public by 2008, China's top auditor, Li Jinhua, told CCTV Thursday. Li Jinhua, head of China's National Audit Office, called for more transparency in government finances after audits last year showed that only 10 percent of reports were available to the public. Li said the undisclosed reporting was due to claims of commercial and State secrets, or arguments over who would be responsible for any uncovered problems. Li acknowledged that finding violations in the law and regulations was comparatively easy, but being able to charge those responsible was much more difficult. "It's very clear who has decision-making power and who is responsible for what. But once a problem is found -- the boss, the person in charge, those involved -- who should be responsible for what is very difficult to ascertain," he said. Li said to ensure a thorough and independent audit, it is very important to eliminate the possibility of bribery between audit-receiving departments and audit offices. chinadaily.com.cn