Municipal office to audit government funded projects
The Shenzhen municipal audit office audited government funded projects with a total worth of 45 billion yuan. The audit body was able to save the government 3 billion yuan in government spending between the months of April 2009 to March 2010.
Among the audited projects was the Shenzhen Metro which costs 1.8 billion yuan, but was 200 million yuan above the cost. Another project also exceeded their cost of about 15 million yuan from their estimated cost of 95 million yuan.
The audit office also found out that 63 enterprises also owe the government 7 million in back taxes. The practice of auditing began in 1999, when the Chief of the National Audit Office made a report exposing malpractices in the central government and urged the government to be prudent in spending the taxpayer’s money.