A total of 23 officials serving as ministers in China's provinces or municipalities were audited in 2010, according to the annual report of China’s National Audit Office (NAO) that was released yesterday. The report said that in 2010, a total of 328 billion yuan of public funds was found to have violated accounting regulations, over 40 billion yuan was lost or wasted and over 160 billion yuan was not properly accounted for. The NAO's investigations into the administration of public funds by senior provincial officials began in 2000 and has intensified over the past 2 years. At the end of 2010, the NAO was given permission to audit the finances of other senior officials including the leaders of public institutions and State-owned enterprises.

Source
The Beijing News

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