China: STMA Dispatches Audit Taskforce to Provincial Corporation

Source from:  TobaccoChina Online 02/21/2011

The State Tobacco Monopoly Administration (STMA) dispatched on February 14 a third-party audit taskforce to Jiangsu Provincial China Tobacco Industry Corporation in east China's Jiangsu Province to oversee operation of its newly established technology research and development center and execution of the project of technological transformation of its Nanjing brand cigarette production line. The dispatch of the audit taskforce to Jiangsu Provincial China Tobacco Industry Corporation has been a first step taken by the STMA - the regulator of China's tobacco industry - to follow up the whole process of the current round of technological transformation of the provincial corporation, in compliance with spirit of the Measures for Audit Over Execution of Projects of Construction by the Tobacco Industry. Before entering the site of construction, the audit taskforce went deep into Jiangsu Provincial China Tobacco Industry Corporation to conduct preliminary investigation prior to audit over execution of the project of technological transformation by holding symposiums, etc. At the symposiums, the audit taskforce managed to elaborately verify progress in execution of the project of technological transformation, and pointed that that the current audit is of relatively high requirements in line with the relevant instructions of the STMA, which means that the taskforce will conduct full-scale audit and supervision over the whole process of execution of the project of technological transformation. Both the audit office of Jiangsu Provincial China Tobacco Industry Corporation and the audit department of Nanjing Cigarette Factory affiliated to the corporation said that they will, on the basis of joint participation, mutual coordination and sufficient communication, scientifically, rationally and effectively do their bit in auditing execution of the project of technological transformation, to ensure smooth completion of the project. In a next stage, the audit taskforce sent by the STMA will, in light of the realities of the project, put forward requirements for audit over execution of the project of technological transformation, specify their service of audit to this effect and manage to improve the audit system at Jiangsu Provincial China Tobacco Industry Corporation. Enditem