Audit is an independent economic supervision activity, and independence is the characteristic that distinguishes audit from other economic supervision. The basic function of audit is not only supervision, but also economic supervision, which is carried out as a third party. Audit subjects are full-time institutions or full-time personnel engaged in audit work, and are independent third parties, such as national audit institutions, accounting firms and their personnel.
The audit object is the finance, financial revenue and expenditure and other economic activities of the audited entity, which means that the audit object includes not only accounting information and its financial revenue and expenditure activities, but also other economic information and other economic activities. The basic working method of audit is review and evaluation, that is, collecting evidence, finding out facts and judging whether it is good or bad by comparing standards. The main purpose of audit is not only to check and evaluate the authenticity and legality of accounting materials and their financial revenues and expenditures, but also to check and evaluate the benefits of relevant economic activities.
"Regulations for the Implementation of the Audit Law of People's Republic of China (PRC)" Article 47 If the audited entity violates the provisions of the Audit Law and these Regulations, refuses or delays the provision of information related to audit matters, or the information provided is untrue or incomplete, or refuses or hinders the inspection, the auditing organ shall order it to make corrections and may give a warning to informed criticism; Refuses to correct, the audited entity may be fined not more than 50,000 yuan, and the directly responsible person in charge and other directly responsible personnel may be fined not more than 20,000 yuan. If the audit institution thinks that it should be punished, it shall put forward suggestions for punishment to the relevant competent departments and units; If a crime is constituted, criminal responsibility shall be investigated according to law.
Article 48 Audit institutions shall, within the scope of their statutory functions and powers and in accordance with the provisions of laws and administrative regulations, take the measures specified in Article 45 of the Audit Law against the acts of various departments at the same level (including directly affiliated units) and people's governments at lower levels that violate the budget or other acts of fiscal revenue and expenditure that violate the provisions of the state.