MOST initiated fund auditing for the State S&T Projects in September. It is the first examination on the project fund utilization during the 11th Five Year period, covering 86 projects and 706 subjects of the 863 Program, 973 Program and Key Technologies R&D Program, and with a total fund over RMB4 billion.
Accounting firms are entrusted to deliver on-site auditing in line with the philosophy of “providing initiative service in advance”, to examine the key problems in fund management and utilization by the project contractors. They will also provide suggestions for improvement so as to help the contractors carry out provisions, improve system and overcome drawbacks.
The auditing is scheduled to end by this December.