China Social Audit Organization is also a legal person organization registered with the approval of relevant departments. It independently undertakes audit verification and consulting services according to law, and its audit reports have legal effect on the outside world, which fully shows that they also have legal status and authority.
China's internal audit institutions are also established according to law, which have a high status and relative independence within the unit, so they also have certain authority. In order to ensure the authority of audit, countries endow audit with transcendental status, supervision, evaluation and verification functions through company law, securities exchange law, commercial law and bankruptcy law. In order to improve the authority of auditing, some international organizations have made auditing an authoritative professional service in the world by coordinating national auditing systems and standards and formulating unified standards.
The authority of audit is mainly manifested in:
Auditors perform their duties according to law and are protected by law. No organization or individual may refuse or obstruct auditors from performing their duties according to law, and may not retaliate against auditors.
Chinese auditors' exercise of independent auditing rights according to law is protected by law. If the auditee refuses or obstructs the audit, or commits financial revenue and expenditure in violation of state regulations, the auditing organ has the right to make decisions or suggestions on handling and punishment.
References:
Auditing: Renmin University of China Press