China's chief auditor calls for greater financial supervision

SHANGHAI (AFP) — China's chief auditor has called for more transparency in government finances after audits last year showed that only 10 percent of reports were open to the public.

Li Jinhua, head of China's National Audit Office, was quoted by China Central Television as saying that all audits of the government including financial institutions such as banks should be open to the public by 2008.

The problem was that while finding violations in the law and regulations was easy, being able to charge those responsible was much more difficult, Li said. ...