The Olympics

The Olympics


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Tuesday, 9 January 2007

Auditors Keep an Eye on Olympics

Li Jinhua, China's head auditor, has stated that he will be exercising special scrutiny of construction projects in the run up to the 2008 Beijing Olympics.

Li will also place emphasis on auditing social security funds and other big projects.

Last year auditors uncovered US$909M in illegally used social security funds, including a scandal in Shanghai that led to the sacking of city Party Secretary Chen Liangyu.

A former Beijing deputy mayor, Liu Zhihua, who was in charge of US$40BN in Olympic construction funds, was fired last year for alleged corruption.

Increasing auditing oversight is an important measure to ensure a "clean" Olympics, Li said.

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