挪威高级审计师论文-挪威政府石油资金项目审计The government of Norway oil fund project auditing is introduced
Norway is one of the biggest Nordic oil producers, the oil industry has been the national economy income's main source of income. How to use and management of these funds, and realize the oil money value maintained and appreciation, is the Norwegian government fiscal and financial sector has an important work content, and supervise and inspect the oil fund management and use conditions is the auditor-general's office the responsibilities of the responsibility of Norway. This paper introduces the auditor-general's office to Norway in 1998 the government of Norway oil fund projects benefit audit content and results, so as to introduce to you all know by the Norwegian capital projects of major auditor-general's office on some of the benefit audit practice, so as to provide some of our work ideas and inspiration.
Background material
The government of Norway oil fund aims to provide long-term budget for government funding. According to the government oil money of the provisions of the law, Norway Treasury responsible for capital management, and establish the benchmark portfolio, the oil fund investment returns are measured. The Norwegian central bank representative responsible for capital projects of finance of the specific implementation.
Oil fund operation mechanism is from the oil industry will get money and interest to temporarily store in a transfer account, then transfer to the project quarterly in central bank independent account. This account is the oil fund portfolio account, fully used for financial investment and foreign exchange cash deposits. Investment account by the central bank of the working group established separately for the management, and purpose is to realize the value of money, to appreciate, and according to the national financial and foreign exchange policy of foreign exchange business, flat fondle currency fluctuations, realize the Norwegian kroner and other European currencies stable exchange rates.
In May 1996, the first pen into the Norwegian government oil capital account money about for 2 billion Norwegian krone. By June 2000, existing capital 304.6 billion Norwegian kroner, equivalent to about $33 billion. By the end of 2001, with $70 billion of the funds. According to the forecast, the funds in the 2020 years ago will continue to increase.
The audit goal
In the oil fund projects benefit audit process, the main aim is to survey the Treasury and whether the central bank of parliament and the Treasury in accordance with the related provisions formulated and work instructions for oil money management. Specifically, whether that is realized with oil money good management, in the acceptable level of risk that a higher return on investment; Whether it will be money to invest in foreign exchange form of financial instruments, as well as whether can guarantee the money as a management tool of effectiveness, etc.
Audit methods
In order to ensure the reliability of the facts, the auditor written data gathered a lot of, and related responsible for talks. Auditors also looked Norway central bank and the ministry of finance related records, and of the central bank risk management system was tested. All of the audit evidence obtained relevant personnel of confirmed in writing. The ministry of finance to feedback also USES a written form, and to be confirmed in writing.
The audit report about the fact that section of the summary and the Treasury to listening to it. Treasury feedback opinion, most of the end in the audit report reflected in the draft.
Audit the applicable to independent performance auditing standards and standards from the audit of parliament, bill, laws and regulations, benefit goals, work instructions and recognized as the practice of the standard. The auditor has the specific audit standard finance and informed the central bank, and these standards and report the facts that the communication.
Audit key
The audit report foc
