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LAW OF THE REPUBLIC OF ARMENIA

of January 30, 2018 No. ZR-58

About auditor chamber

(as amended on 07-02-2020)

Accepted by National Assembly of the Republic of Armenia on January 16, 2018

Chapter 1. General provisions

Article 1. The basic concepts used in the Law

1. The basic concepts used in this Law in sense of this law, have the following value:

1) external state audit (further - audit) - assessment of respect for the criteria and requirements established by the legal acts regulating subject of audit or the bargains concluded within the civil relations. Assessment is carried out after the end of the period or stage established by legal acts or the bargains concluded within the civil relations for realization of subject of audit;

2) audit subject - the financial and economic activities performed by object of audit;

3) object of audit - the bodies and organizations established by part 1 of article 5 of this Law;

4) financial and economic activities - use in the sphere of public finance and public property of means of the government budget and communal budgets, the obtained loans and the credits, the state-owned and communal property;

5) program Item - unit of parts 1 and 2 of the Program of activities of Auditor chamber (further - the Program of activities) in which object, audit subject is specified.

6) the audit engagement - the document established by Auditor chamber in which are specified included in object of audit in program Item, subject, accomplishment terms, the period including audit, audit type, the procedure, the division performing structural audit, officials, including, auditors, experts and specialists;

7) audit types - financial, compliance and efficiency;

8) audit procedures - survey, observation, request, external confirmation, the analytical procedure, recalculation and repeated carrying out;

9) check - assessment of respect for the criteria and requirements established by the legal acts regulating subject of check or the bargains concluded within the civil relations. Assessment is carried out after the end of the period or stage established by legal acts or the bargains concluded within the civil relations for realization of subject of audit. It is performed at the legal entities connected with object of audit in the cases established by part 2 of article 5 of this Law, types of audit and procedures of survey, observation, external confirmation, recalculation and repeated carrying out.

10) check subject - the financial and economic activities performed by object of check;

11) object of check - the legal entity identified by part 2 of article 5 of this Law;

12) check task - the document established by Auditor chamber in which the checks included in object in program Item, subject, accomplishment terms, the period including check, audit type, the procedure, the division performing structural audit, officials, including, the auditors, experts and specialists concerning object of audit are specified;

13) the auditor - the employee of structural division of civil Auditor chamber performing audit, check;

14) the specialist - physical person, in contractual procedure attracted in process of audit, check, with special professional knowledge in the respective sphere.

15) the expert - physical person in contractual procedure attracted in process of audit, check, with special professional knowledge about audit and check.

Article 2. Status of Auditor chamber

1. The auditor chamber is the independent body performing external state audit.

2. The residence of Auditor chamber is in the city of Yerevan.

Article 3. Purpose of activities of Auditor chamber

1. The purpose of activities of Auditor chamber is submission to National assembly and to society of timely, professional and impartial information on legality and efficiency of use of means of the government budget and communal budgets, the obtained loans and the credits, the state-owned and communal property.

Article 4. Functions of auditor chamber

1. For providing the purpose of activities of the Auditor chamber established by this Law, the auditor chamber performs the following functions:

1) accomplishment of audit in the sphere of public finance and public property concerning legality and efficiency of use of means of the government budget and communal budgets, the obtained loans and the credits, the state-owned and communal property.

2) within the audit specified in Item 1 of this part, accomplishment of check in the cases provided by part 2 of Article 5.

Article 5. Powers of Auditor chamber

1. The auditor chamber performs audit in the state bodies and local government bodies and organizations financed from means of the government budget and communal budgets. The auditor chamber does not perform audit in the state bodies and local government bodies and organizations which are not financed from means of the government budget and communal budgets.

2. The auditor chamber does not perform check at legal entities whom the state functions and functions of local self-government are taken away, and their implementation is not financed from the government budget and communal budgets. The auditor chamber within the audit established by part of 1 this Article performs check at the legal entity if:

1) the non-commercial legal entity was founded by the Republic of Armenia or community;

2) more than 50 percent of the authorized capital of the commercial legal entity - with the state and communal participation;

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