China issues revised regulations on implementation of audit law

BEIJING -- Chinese Premier Li Qiang has signed a State Council decree promulgating revised regulations on the implementation of the audit law.

The revised regulations, which consist of 7 chapters and 64 articles, will take effect on Dec 1.

Highlighting the need to refine and improve audit supervision, the regulations specify the scope and content of audits over fiscal revenues and expenditures, and bring the management and use of state-owned resources into the scope of special audit investigations, among others.

To ensure that audit work is free from interference, the regulations add provisions on a registration and reporting system for any unwarranted attempts to inquire about or interfere with audit matters.

All departments of the State Council and local authorities at all levels shall strengthen overall coordination, oversee rectification of problems uncovered in audits, and establish and improve relevant systems.