Describes the internal audit function in a joint venture company. Auditing joint ventures is a fascinating topic, particularly when it involves the nuclear power industry and partnership between China and a foreign collaborator. The internal audit function was established right at the outset and...

Discusses the development of internal audit theory and practice with reference to the Sino‐China Petrochemical Corporation (SINOPEC), a large, state‐owned petrochemical enterprise group. Examines the organizational status, authority and role of internal audit, and the question of...

Provides background information on how internal audit has developed during its brief history, with various seminal conferences being milestones. There has been resistance to overcome and in some cases, where internal audit had been dismantled, it has now been re‐established. Reports on how a...

Discusses the origins of internal auditing in the rise of the joint stock company and its role in the Chinese socialist market economy. Outlines the economic benefits expected from modern enterprises and the invaluable contributions offered by internal audit to their success. Suggests a number...

Focuses on the functions and objectives of internal audit and the conditions necessary for them. Believes the basic function of internal audit is a special kind of economic control. In other words, internal audit itself is a special kind of control function over other controls within an...

Shows how the banking world too is adjusting to the needs of the socialist market economy. As a valuable adjunct to and tool for internal auditing, demonstrates the development of a bank surveillance system, ideally suited to the needs of bank management and internal audit. Such a system has...

Describes the internal audit arrangements in the Chinese tobacco industry. The elements of a high quality, well‐supervised service are already in place, with the capability of auditing across the range of activities and tackling corruption. States that there is a need for continuous...

Presents introductory material on internal audit in China then plunges into the exciting world of the economic accountability audit. Shows how this is very much at the heart of the socialist market economy reform and the related role of internal audit. It is integrally connected to the core...