RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of September 12, 2018 No. 740

About approval of the Procedure for carrying out by the Public auditing service, its interregional territorial authorities of the state financial audit of investment projects

The Cabinet of Ministers of Ukraine decides:

1. Approve the Procedure for carrying out by the Public auditing service, its interregional territorial authorities of the state financial audit of investment projects which is applied.

2. The subitem 4 of item 4 of the Regulations on the Public auditing service of Ukraine approved by the resolution of the Cabinet of Ministers of Ukraine of February 3, 2016 No. 43 (Official Bulletin of Ukraine, 2016, No. 12, Art. 506), to add with the paragraph of such content:

"implementation of investment projects;".

Approved by the Resolution of the Cabinet of Ministers of Ukraine of September 12, 2018, No. 740

Procedure for carrying out by the Public auditing service, its interregional territorial authorities of the state financial audit of investment projects

1. This Procedure determines the carrying out mechanism Gosauditsluzhboy, its interregional territorial authorities (further - body of Gosauditsluzhby) the state financial audit of investment projects.

2. The state financial audit of investment projects (further - audit) - the type of the state financial audit directed to carrying out the analysis and check of legality and efficiency of implementation of investment projects by objects of audit which execution is performed on the basis of the state and local investment, the state support, provision of the state and/or local guarantees and condition of achievement of productive indicators, management and use of investments (means).

3. In this Procedure terms are used in such value:

1) audit procedures - complex of actions of the statutory auditor (auditor selection, methods and methods of forming and research of the hypotheses of audit (judgments of the statutory auditor concerning origins and availability of problems, omissions and shortcomings, violations, risks) directed to receipt of auditor proofs (documents, information) during audit;

2) the statutory auditor - the official of body of Gosauditsluzhby who is given authority on carrying out audit and has the rights determined by article 10 of the Law of Ukraine "About the basic principles of implementation of the state financial control in Ukraine";

3) object of audit - the main manager of budgetary funds and/or the executive in charge, and/or the beneficiary of the investment project;

4) the participant of audit - legal entities, irrespective of legal form and pattern of ownership which accept (took) part in accomplishment of investment projects which realization is enabled (was performed) on the basis of the state and local investment, the state support, provision of the state and/or local guarantees.

Other terms in this Procedure are used in the value given in the Budget code of Ukraine, the Law of Ukraine "About investing activities" and other regulatory legal acts regulating projects implementation of economic and social development and the state financial control.

4. The main objectives of audit are:

1) carrying out analysis and check:

compliances with law during preparation and implementation of the investment project;

justification of the volumes of investment planned at all stages of the investment project and technical and economic calculations;

efficiency of planning, management and use of investments in case of implementation of the investment project;

efficiency of implementation of the investment project (accomplishment of plan targets, goal achievement and indicators of effectiveness of implementation of the investment project);

level of organizational, normative and legal, financial provision of the investment project;

results of activities of object of audit in case of implementation of the investment project;

correctness of conducting financial accounting, reliability of financial and other reporting of object of audit;

functioning of internal control system of object of audit and condition of internal audit if object of audit is the main manager of budgetary funds;

2) development of offers and recommendations about elimination of the shortcomings and violations revealed during audit and to prevention them further (further - offers and recommendations).

5. Audit is booked by such stages:

1) planning and organization of audit (preliminary studying of object of audit, plan development, creation and approval of the program of audit).

The program of audit is constituted by the head of audit and submitted for approval to the head of body of Gosauditsluzhby or his deputy. The head of audit represents the program of audit for acquaintance to object of audit by one of the methods determined in Item 15 of this Procedure;

2) carrying out audit procedures, forming and execution of auditor proofs, preparation of auditor conclusions, offers and recommendations;

3) the reporting under results of audit by forming and approval of the draft of the report on results of audit (further - the report), signing of the protocol of approval, forming, signing and submission of the report on object of audit;

4) monitoring of accomplishment of the proposals and recommendations submitted by results of audit and results of their implementation.

Documentation of carrying out audit is performed in paper form.

6. No. 795 is excluded according to the Resolution of the Cabinet of Ministers of Ukraine of 09.09.2020

7. During audit with research purpose of hypotheses of audit and receipt of auditor proofs information collection (obtaining from the participant of audit of necessary documents, information) can be performed by such methods:

by the written request of body of Gosauditsluzhby;

statutory auditors on the location of the participant of audit. Results of information collection (including counter reconciliations) in such a way are reflected in the reference which is signed by the statutory auditor and the participant manager of audit and is attached to the report.

8. Audit is booked according to the plan of holding actions of the state financial control approved in accordance with the established procedure which is posted on the official website of Gosauditsluzhby.

9. For carrying out audit and/or information collection on the location of the participant of audit on each statutory auditor the direction on the samples established by Gosauditsluzhboy which is signed by the head of body the Ministry of Finance is drawn up in duplicate.

10. Statutory auditors provide to the head of object of audit or its deputy the direction in day of exit for carrying out audit in the location of object of audit.

11. Aggregate term of carrying out audit constitutes no more than 90 working days.

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