Objectives of the Asset Verification - by Razia

Objectives of the asset verification
(1) To comprehensively find out the asset status of central enterprises, to faithfully uncover the conflicts and problems existing in enterprises, to truthfully and completely reflect the asset status, financial status and business achievements of enterprises and to enhance the quality of the accounting information of enterprises.
(2) To comprehensively check and verify the asset losses of central enterprises and cope with the losses in light of the policies of the state on asset verification, to promote enterprises to solve the problems that remain unsettled due to historical reasons, and to create conditions for the implementation of the Enterprise Accounting System.
(3) Through asset verification on public institutions affiliated to the central enterprises, to verify the status on asset and rights and interests of the public institutions, to regulate the accounting and financial reporting system of the enterprises, and to promote the real reflection of the business strength of the enterprises.
(4)  To comprehensively check and verify the various kinds of assets, debts and ownership rights of overseas subsidiaries affiliated to the central enterprises, to regulate the financial supervision and administration and the financial reporting system of overseas enterprises, and to promote and intensify the supervision and administration on overseas state-owned assets.