ACCOUNTS COMMITTEE
FOR CONTROL OVER EXECUTION OF THE REPUBLICAN BUDGET

News - Press releases

21.05.2018

A meeting with the representatives of KPMG and Ernst & Young international audit companies was held in the Accounts Committee

diagnostics and improvement of the Accounts Committee business processes modeled on the first-rate world audit companies.
The project is planned to be implemented with the support of the Asian Development Bank.

The Chairwoman of the Accounts Committee, Natalya Godunova, has noted that with the adoption of the Law «On Public Audit and Financial Control» the mandate of the institution was significantly expanded. The analysis of performance has become the main criterion for the work, current assessment of budget execution, implementation of program documents, public debt audit management and other functions have been added.

 "For the qualitative  realization of the tasks and assignments of the Head of the State on increase of  budget expenditures efficiency and prevention of violations, we need to restructure from operational control to expert and analytical work, increase the professional level of auditors and improve the activity in accordance with the best world practice", she emphasized.

Representatives of KPMG and Ernst & Young, in turn, have demonstrated the main proposed approaches on reengineering of the Accounts Committee business processes, aimed at improving the efficiency of the functions performed, optimization of them, automatization, improvement of the methodological base, strengthening of the human resources.  

At the end of the meeting, Natalya Godunova expressed hope that the implementation of this project will promote further development of the supreme audit institution capacity and a full-scale transition to the international audit standards.

For information:

KPMG is one of the Big Four auditing companies along with Deloitte, Ernst & Young and PwC. The international headquarters is located in Amstelveen (the Netherlands). The company provides three types of services: audit, tax and consulting services.
Ernst & Young (EY) is a British audit and consulting company, one of the largest in the world (one of the Big Four auditing companies). Since 2013, operates under the EY trademark, which is an acronym for the name of the company. Headquarters is in London.
 
 
 

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