Recently, National Audit Office of China (CNAO) issues a guidance requesting audit institutions should truly play the role of audit supervision to promote the economy running smoothly and healthily.

The guidance puts forward 12 specific requirements to audit institutions at all levels in China. They are (1) strengthen the sense of responsibility and sense of mission; (2) promote the major policy measures of central government to carry out; (3) correctly count the new problems arising in the course of reform and development; (4) promote the leading officials at all levels to dedicated to responsible; (5) promote the government function change; (6) promote the integration of all kinds of funds; (7) promote the performance of fiscal funds; (8) promote the activation of the stock of fiscal funds; (9) promote the thrift; (10) pay attention to revealing the potential risks in the economic operation; (11) promote deepening reform and institutional innovation and (12) disclose and investigate major violations cases thoroughly.

Combining the new requirements with the reform and development, the guidance highlights that audit institutions at all levels should reveal, analyze, and reflect the problem from facts and objectives and make the audit sanctions and audit recommendations carefully, to better promote healthy and steady economic development in the new situation.