China's chief auditor calls for greater financial
supervision
SHANGHAI: China's chief auditor has called for more transparency in
government finances after audits last year showed that only 10 percent of
reports were open to the public.
Li Jinhua, head of China's National Audit Office, was quoted by China
Central Television as saying that all audits of the government including
financial institutions such as banks should be open to the public by 2008.
The problem was that while finding violations in the law and regulations was
easy, being able to charge those responsible was much more difficult, Li
said.
"It's very clear who has decision-making power, who is responsible for what
is clear, 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."
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