30 JUN 2017 Audit Service Center of China National Audit Office for Foreign Loan and Assistance Projects Audit Report VHP #K (2017) 31 - AUDIT REPORT (2017) NO. 31 Project Name: Harbin-Jiamusi Railway Project Financed by the World Bank IAAi: 8347-CN Loan No.: 8347-CN Project Entity: China Railway Corporation # It : 2016 Accounting Year: 2016 目录 ContentS 一、审计师意见．...................................．……，二，．……，...................................．……1 1 .Auditor&5 Opinion.．……，，…，，二，.,，…，.,.．…，二，二，，…，.,...............................．……，…，．…3 二、财务报表及财务报表说明．..........．……，,.......．……，……，，二，二，，二，.............．……5 11 .Financial statements and Notes to the Financial Statemellts .................．……5 （一）资金平衡表．…，,.．…，..............．……，…，.，二，二，,.,,.,,,............................．……5 1.Balance Sheet,,.....．……，，二，.，二，…，．…，.........................．……，.............．……，二，.,．…5 （二）项目进度表．…，二，…，．……，．…，.,.................................................．……，.，…8 11.5～脚。fsoul℃es a11dUses0fRlndsbyProjectComPonent二，.,.......．……8 （三）贷款协定执行情况表．...........................．……，,.,......．……，．…，二，,,,,,,.13 111 .Statelllellt ofllnplemelltation ofL0anAgreement.,.....．……，.．…，…，，二，二，……13 （四）专用账户报表．.......................................................．……，,,,.，……，……14 iv. SpecialAccountS切抚ment......．……，.,.,,,,，二，.，。，.,,,,.,,.．……，.．……，.........．……14 （五）财务报表附注．.....................．……，......．……，二，,，……，.................．……16 v.NotestotheFina11Cialstatements..........................................．……，....．……19 三、审计发现的问题及建议…，…，．…，,,...................．……，.．…，....................．……24 111.Andit Findings and Reco~endations．…，.......．……，．…，…，,.．……，……，,.,.,,，…26  一、审计师意见 审计师意见 中国铁路总公司： 我们审计了世界银行贷款哈尔滨至佳木斯铁路项目2016年12月31 日的资金平衡表及截至该日止同年度的项目进度表、贷款协定执行情况表 和专用账户报表等项目特定目的财务报表及财务报表附注（第5页至第23 页）。 （一）项目执行单位对财务报表的责任 簖制上述财务报表是你单位的责任，这种责任包括： 1．按照中国的会计准则、会计制度和本项目贷款协定的要求编制项 目财务报表，并佼其实现公允反映； 2．设计、执行和维护必要的内部控制，以使项目财务报表不存在由 于舞弊或错误而导致的重大错报。 （二）审计责任 我们的责任是在执行审计工作的基础上对财务报表发表审计意见。我 们按照中国国家审计准则和国际审计准则的规定执行了审计工作，上述准 则要求我们遵守审计职业要求，计划和执行审计工作以对项目财务报表是 否不存在重大错报获取合理保证。 为获取有关财务报表金额和披露信息的有关证据，我们实施了必要的 审计程序。我们运用职业判断选择审计程序，这些程序包括对由于舞弊或 错误导致的财务报表重大错报风险的评估。在进行风险评估时，为了设计 恰当的审计程序，我们考虑了与财务报表相关的内部控制，但目的并非对 内部控制的有效性发表意见。审计工作还包括评价所选用会计政策的恰当 性和作出会计估计的合理性，以及评价财务报表的总体列报。 我们相信，我们获取的审计证据是适当的、充分的，为发表审计意见 提供了基础。 1 （三）审计意见 我们认为，第一段所列财务报表在所有重大方面按照中国的会计准 则、会计制度和本项目贷款协定的要求编制，公允反映了世界银行贷款哈 尔滨至佳木斯铁路项目2016年12月31日的财务状况及截至该日同年度 的财务收支、项目执行和专用账户收支情况。 （四）其他事项 我们审查了本期内由你单位报送给世界银行的第003至005号提款申 请书及所附资料。我们认为，所有资料均符合贷款协议的要求，可以作为 申请提款的依据。 本审计师意见之后，共同构成审计报告的还有两项内容：财务报表及 财务报表附注和审计发现的问题及建议。一 衬． 声，；劲之－ 宜二公 审计籲粉洲啧援款项目甲计服务中心 2介17年6月3厅日 犷＿ 地址：中国北京市丰台区金中都南街17号 由挤政簖码：100073 电话：86一10一50992710 2 1. Auditor's Opinion Auditor's Opinion To China Railway Corporation We have audited the special purpose financial statements (from page 5 to page 23) of the Harbin-Jiamusi Railway Project Financed by the World Bank, which comprise the Balance Sheet as of December 31, 2016, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan Agreement and the Special Account Statement for the year then ended, and Notes to the Financial Statements. Project Entity's Responsibility for the Financial Statements Your entity is responsible for the preparation of these financial statements, which include: i. Prepaiing and fair presenting the accompanying financial statements in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement; ii. Designing, implementing and maintaining necessary internal control to ensure that the financial statements are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Goverriment Auditing Standards of the People's Republic of China and International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perfonn the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entities' preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall 3 presentation of the financial statements. We believe that the audit evidence we have obtained is appropriate and sufficient to provide a basis for our audit opinion. Opinion In our opinion, the financial statements identified in the first paragraph present fairly, in all material respects, financial position of the Harbin-Jiamusi Railway Project Financed by the World Bank as of December 31, 2016, its financial receipts and disbursements, the project implementation and the receipts and disbursements of the special account for the year then ended in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement. Other Matter We also examined the withdrawal applications from No.003 to No.005 and the attached documents submitted to the World Bank during the period. In our opinion, those documents comply with the project loan agreement and can serve as basis for loan withdrawal. The audit report consists of the Auditor's Opinion and two more parts hereinafter: Financial Statements and Notes to the Financial Statements, Audit Findings and Recommendations. 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CD . cD in c) Ln (n CD 0 cn Ln 0 cn cc: co 4n (n m lo ýo A<6 -c rý CD 0 r, 1.9 0 R 19 ca cD m m rn r, n 0 rq 61 Ci q 0 M (D ::i LO r,.: al cn uD kD CD 0 cý cf 0 cm rn en cc oo PIP, Ln yn ko W Ln Ln =5 Ln u LD u3 c3 C> 0 c) c? cD cs cý d M cD cD r-IN rq 4% (n C) 3 rn C> < Lo e uD et C. 0 P4 to c 5 w ;3 22 r u mu, cc M w co Ee; EL Ln c: ýä lk * 2 (D ru iu 4t -m -ý zt -0 1ý M Z -&l i ýw u 7-19 CL -v, m ýr Ln (PU) *#19kPAO iv. Special Account Statement SPECIAL ACCOUNT STATEMENT I4 X. 2016 * 12 A 31 H (For the period ended December 31, 2016) Project Name: Harbin-Jiamusi Railway Depository Bank: China Everbright Bank Project Financed by the World Bank Beijing Xicheng Branch ,Vu: 83470-CN iKTh 75071488000006970 LoanNo.:83470-CN AccountNo.: 75071488000006970 Depitor: Bank:P,A rt Prepared by: China Railway Corporation Cny: USD Part A: Account Activity for the Current Period Amount 1. JiW7)#I 7,200,672.80 Beginning Balance Add: 2. pAtIGM E 448,804.17 Total Amount Deposited by the World Bank for the Current Period 3. M1X9AKA0, (V A fP R) 3,165.38 Total Interest Earned (Deposit in the Special Account) for the Current Period 4. 4T~f9L Total Amount Refunded to Cover Ineligible Expenditure for the Current Period Deduct: 5. t81 tM 6,944,400.70 Total Amount Withdrawn for the Current Period 6, (*luk1-Vffl-)PKP%ft) Total Deposit Interest Transferred out ( from the Special Account) for the Current Period 7,S ittNg Total Amount Returned to the World Bank for the Current Period Total Service Charges if not included in the above Amount Withdrawn for the - Current Period 7. J A i 708,241.65 Ending Balance 14 Part B: Account Reconciliation for the Special Account Amount 1. tL #5;RA 10,000,000.00 Amount Advanced by the World Bank Deduct: 2.tLW tt- Total Amount Recovered by the World Bank 3. ~~tzz h T~ Outstanding Amount Advanced to the Special Account at the End of the 10,000,000.00 Current Period 4. WfPR* 708,241.65 Ending Balance of the Special Account at the End of the Current Period Add: Amount Claimed but not yet Credited as of the End of the Current Period Application No. Amount Amount to US$ 6. AWA*RV BS UN *RtR , 9,295,572.62 Amount Withdrawn but not yet Claimed as of the End of the Current Period 7. flR*VWffVtffl ( 5lTQ6s t rP8 ) Cumulative Service Charges{ If not Included in Item 5 or 6) Deduct: 8. MPAA ( ,tfRiSI) 3,814.27 Interest Earned (If Included in the Special Account) 9. ,Pm4 ,rY,T) r4 j Total Advance to the Special Account accounted for at the End of the Current 10,000,000.00 Period 15 （五）财务报表附注 财务报表附注 1．项目概况 世界银行贷款哈尔滨至佳木斯铁路项目（以下简称哈佳铁路项目）位 于黑龙江省中东部，线路全镼343公里。该项目建设单位为哈佳铁路客运 专线有限责任公司（以下简称哈佳客专公司）。2014年1月9日，国家发展 和改革委员会批复该项目可行性研究报告，批复项目投资估算总额人民币 347.14亿元，项目资本金173.6亿元，资本金以外利用国内外银行贷款，其 中世界银行贷款3亿粎元。2014年4月26日，中国铁路总公司批复该项目初 步设计，批复项目总投资人民币360.46亿元。 20 14年5月18日，中国政府与世界银行签订了哈佳铁路项目贷款协定 （贷款号：8347一CN)，由世界银行向哈佳铁路项目提供3亿美元贷款。2014 年8月29日，中国铁路总公司批复哈佳铁路项目中43处控制性工程开工建 设。 2．主要会计政策 2,1主要会计制度及编表范围 本项目根据《国有建设单位会计制度》和《世界银行贷款项目会计核 算办法》进行会计核算。项目财务报表由中国铁路总公司将哈佳客专公司 上报的项目财务报表及本级项目财务报表汇总后编制。 2.2会计年度 会计核算年度采用公历年制，即公历每年1月1日至12月31日。 2.3记账基础和计价原则 以权责发生制为记账基础，以历史成本为计价原则。 2.4记账本位币 以人民币为记账本位币。 16 2.5外汇折算 年度内发生的外币经济业务，按年初汇率折合人民币记账。年度终了， 货币性项目中的外币余额按期末市场汇价（中间价）进行调整，由此产生的 折合人民币差额，项目初验合格前予以资本化，记入工程成本，初验合格 后予以费用化，计入当期损益。 按照中国人民银行20 16年12月31日汇率，即UsDI＝人民币6.9370 元。 2.6交付佼用资产科目核算方法 本科目核算项目单位已经完成购籮、建造过程，并已交付给生产、使 用单位的各项资产以及用项目资金购建的在建设期间自用的固定资产。 2,7在建工程科目核算方法 本科目包括建安工程投资、待摊投资、设备投资等科目。 建安工程投资用于核算项目单位发生的构成项目建设投资支出的建 筑工程和安装工程的实际成本。 待摊投资核算建设单位发生的构成基本建设实际支出的、按照规定应 当分摊计入交付佼用资产成本的各项费用支出。 设备投资核算项目单位发生的构成项目建设投资支出的各种设备的 实际成本，包括交付安装的需要安装设备、不需要安装设备和为生产准备 的不够固定资产标准的工具、器具的实际成本。 3．报表科目说明 3.1项目支出 2016年项目支出人民币7,n 0,248,545 .93元，累计支出人民币 21,246,204,172,25元，占总投资计划的55.94％。 3.2货币资金 2016年12月31日货币资金余额为人民币526,482,108.58元，全部为 银行存款，其中专用账户存款折合人民币4,913,072.33元。 17 3,3预付及应收款 2016年12月31日余额为人民币577,875,548.56元。 3.4固定资产 2016年12月31日余额为人民币5,42几868.41元，为办公用固定资产 的净值。 3.5项目资本与项目资本公积 20 16年12月31日余额为人民币18,558,051,282.24元，为项目资本 金累计实际到位数。 3.6项目借款 2016年12月31日余额为人民币l,772,277,935,05元，其中国际复兴 开发银行贷款额为23,524,938.67粎元，折合人民币163,192,499.55元。 3.7应付款 2016年12月31日余额为人民币2,025,587,813.44元。 3,8未交款 2016年12月31日余额为人民币65,667.07元，为应缴未缴的个人所 得税款。 4．专用账户使用情况 本项目专用账户设在中国光大银行北京西城支行，账号为 75071488000006970，币种为粎元。专用账户首次存款10,000,000.00美元。 2016年年初余额7,200,672.80粎元，本年度回补448,804.17美元，利息收 入3,165.38粎元，本年度支付6,944,400.70美元，年末余额708,241.65美 元。 18 v. Notes to the Financial Statements Notes to the Financial Statements I.Project Overview Harbin-Jiamusi Railway Project Financed by the World Bank (hereinafter refers to as Hajia Railway Project) locates in the middle east of Heilongjiang province. Total length of the railway reached 343km. The construction unit of this project is Hajia Railway Passenger Dedicated Line Co.,Ltd. (hereinafter refers to as Hajia Company). On January 9,2014, the National Development and Reform Committee approved the Feasibility Study Report of the project. The approved estimate investment totaled RMB 34.714 billion Yuan, including FMB 17.36 billion project capital. Funds other than the project capital are to be settled by banks loans outside and within the country, which includes USD 0.3 billion World Bank loan. On April 26,2014, the preliminary design was approved by China Railway Corporation. The approved total investment is RMB. 36.046 billion Yuan. On May 18, 2014, the Chinese government and the World Bank signed the Loan Agreement of HaJia Railway Project (Loan No.8347-CN). The Bank is to provide USD 0. 3 billion loan for the construction of Haj ia Railway Proj ect. Forty-three controlling works of this project was approved by CRC for construction on August 29, 2014. 2. Major Accounting Principles 2.1 Preparation of Financial Statement and Principal Accounting Policies The project financial statements are consolidated according to the Accounting System for the Stated-owned Construction Units and Accounting Methods of the Project financed by the World Bank . The project financial statements are consolidated by China Railway Corporation after summarizing the financial statements submitted by Hajia Company and its own financial statements. 19 2.2 Accounting Year In accounting practice, the Gregorian calendar year is adopted as the fiscal year from January 1 to December 31. 2.3 Accounting basis and measurement principle Making accrual-basis as accounting basis and making historical cost as measurement principle. 2.4 Functional currency Making RMB as functional currency. 2.5 Foreign Currency Transaction Foreign currency transaction occurring during this year shall be converted into the amount in the functional currency at the exchange rate of the beginning of the year. At the end of the year, monetary items shall be modified at the intermediate exchange rate of the end of the year. The balance arising from this reason shall be capitalized into engineer cost before the first acceptance of the project is qualified, and recorded into the profits and losses at the current period after the first acceptance of the project. The exchange rate adopted in the financial statements was the exchange rate on December 31, 2016 of the People's Bank of China, which is USD1= RMB6.9370 yuan. 2.6 Application assets accounting subject This subject calculates the project unit' s assets, which have completed the process of purchase and construction, and delivered to the one who need it. It also calculates the self-use fixed-assets which are purchased and constructed 20 using the project fund. 2.7 Accounting Method to the 'Construction in Progress' Item This item includes Construction and Installation investment, amortized investment, equipment investment, etc. Construction and Installation investment calculates the actual cost produced by the project company for the construction and Installation, which makes up project construction investment disbursement. Amortized investment calculates all the cost produced by the construction unit, which makes up the actual infrastructure cost and shall be added into assets employed cost and general expenses in accordance with the provisions. Equipment Investment calculates the actual cost produced by the project company for all the equipment, which makes up project construction investment disbursement, including actual cost for the equipment which needs installation, the equipment which needs no installation, and tools prepared for the production but not qualified for the fixed assets. 3. Explanation of Subjects 3.1 Project Expenditure The Project expenditures in 2016 was RMB7,110,248,545.93 yuan, and the cumulative expenditures were RMB 21,246,204,172.25yuan, which accounted for 58.94% of the total investment plan. 3.2 Cash and Bank On December 31, 2016, the balance was RMB 526,482,108.58 Yuan, which was the total of bank deposit. And the funds in the Special Account were converted to RMB4,913,072.33 yuan. 21 3.3 Prepaid and Receivable Its balance On December 31, 2016 was RMB 577,875,548.56 yuan. 3.4 Fixed Assets On December 31, 2016, the balance was RMB 5,420,868.41 yuan, which was the net value of the office fixed assets. 3.5 Project Capital and Capital Surplus Its balance On December 31, 2016 was RMB 18,558,051,282.24 yuan, which were the cumulative actual paid-in investment. 3.6 Project Loan The balance on December 31, 2016 was RMB 1,772,277,935.05 yuan, including the IBRD loan USD23,524,938.67, equivalent to RMB 163,192,499.55 yuan. 3.7 Payable The balance on December 31, 2016 was RMB 2,025,587,813.44 yuan. 3.8 Other Payable The balance on December 31, 2016 was RMB65,667.07 yuan, which was the unpaid individual income tax payable. 4. Special Account 22 The Special Account of this project is set in Beijing Xicheng Branch, China Everbright Bank, with the account number of 75071488000006970, and USD as currency Unit. The initial Deposit of the Special Account is USD10,000,000.00. The beginning balance of 2016 was USD7,200,672.80 and the reimbursement in the year was USD448,804.17. This year the interest earned was USD3,165.38 and the disbursement was USD6,944,400.70. Thus, the ending balance was USD 708,241.65 . 23