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of December 7, 2017 No. 260

About the organization and functioning of Audit Chamber of the Republic of Moldova

(as amended on 28-12-2023)

Confirming commitment of the Republic of Moldova to international standards and the best practice of public audit, based on Item p) part (3) Article 72 and article 133 of the Constitution of the Republic of Moldova

The parliament adopts this organic law.

Chapter I. General provisions

Article 1. Sphere of regulation

This law regulates:

a) mandate, organization, functions, powers, independence guarantees, and also other important aspects of activities of Audit Chamber;

b) the legal relations arising in the course of external public audit.

Article 2. Concepts

For the purpose of this law the following concepts are used:

audit – systematic process of obtaining and objective assessment of proofs for the purpose of determination whether there correspond information or the existing conditions to the established criteria;

compliance audit – the independent activities directed to receipt of confirmation of the fact that activities, the made financial transactions on all essential aspects correspond to the applied provisions;

efficiency audit – the independent, objective and confidential assessment of procedure for realization which is carried out for the purpose of improvement of situation the politician, programs, systems and activities in the public sector according to the principles of profitability, efficiency and effectiveness;

financial audit – the independent activities directed to receipt of reasonable confirmation of the fact the that the financial reporting in general does not contain essential misstatements as a result of forgery or mistakes finished by expression of opinion on compliance of the financial reporting from all essential points of view to the applied regulatory base according to the financial reporting;

external public audit (audit of the public sector / in the public sector) – systematic process of independent and objective assessment for check and receipt of proofs that politicians, programs, systems and activities in the public sector were controlled and implemented economically, effectively and productively, according to the laws and the applied provisions and that they are correctly reflected in the reporting;

the public auditor – the employee of Audit Chamber who is certified in the field of external public audit or received this quality by appointment and which has the right to perform external public audit and/or to direct it;

the auditor's conclusion – the conclusion of the public auditor based on ascertainings of audit and their importance / materiality about compliance to the subjected audit of activities, transactions or information, on all essential aspects, the applied criteria;

quality control – set of the actions and procedures realized in the course of audit, directed to guaranteeing quality of auditor activities and audit opinion, and also to development of the professional and authorized relations with preserving independence of organization;

profitability – minimization of cost of the resources allocated for achievement of results of activities with preserving its quality;

effectiveness – extent of implementation of the tasks and achievement of the planned results of activities;

efficiency – ratio of the received results of activities and resources used for their achievement;

the audited subject – subjected to external public audit legal entity or physical person, irrespective of type of property and form of business, responsible for management of public financial resources and/or public property and/or for regulation of the economic and/or social sphere, and also the program or activities;

refusal of opinion expression - conclusion of the public auditor which cannot obtain sufficient and competent auditor evidences for reasons for the auditor opinion, or conclusion that possible influence on the financial reporting of undetected misstatements can be both essential, and comprehensive;

the supreme body of audit (SBA) – public body of the state which irrespective of procedure for creation, appointment or the organization performs the highest function of external public audit of the relevant state based on the law;

the audit engagement – set of the planned interconnected auditor tasks / actions with the specific purposes performed under management/supervision of the skilled auditor for certain period in the set limits;

the follow-up task - the activities for post-audit inspection performed for the purpose of assessment of accomplishment of recommendations of Audit Chamber, and also results of their realization;


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