RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of January 21, 2023 No. 29

About approval of the Regulations on Council of public supervision over audit

For the purpose of realization of part 8 of article 27 of the Law of the Kyrgyz Republic "About auditor activities", according to articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Approve Regulations on Council of public supervision over audit according to appendix.

2. This resolution becomes effective after fifteen days from the date of official publication.

Appendix

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of January 21, 2023 No. 29

Regulations on Council of public supervision over audit

1. General provisions

1. The regulations on Council of public supervision over audit (further - the Provision) establish procedure for forming and the organization of work of Council of the public supervision on audit (further - Council) created under the authorized state body regulating auditor activities and exercising control of activities of auditors, auditing organizations, professional auditor associations (further - authorized state body).

2. Council is the joint advisory advisory body consisting of representatives of state bodies, business environment and the academic circle, exercising state public control, considering the questions connected with audit and external control of quality, and making decisions for the purpose of public interest.

2. Procedure for forming of Council

3. For implementation of public supervision over audit the order of the head of authorized state body creates Council and its members affirm.

4. Council consists of 7 (seven) members, including the chairman and the secretary of the Council appointed from number of persons employed of authorized state body, the representative of Audit Chamber of the Kyrgyz Republic appointed at the request of authorized state body, the representative of the academic circle in the field of financial accounting and/or audit and three representatives of business environment in audit area.

5. Persons having knowledge and working experience according to part 4 of article 27 of the Law of the Kyrgyz Republic "About auditor activities" shall be members of council from the academic circle in the field of financial accounting and/or audit and business environment in audit area.

6. The chairman and members of council perform the activities on a voluntary basis.

7. Term of office of members of council: the representative of Audit Chamber of the Kyrgyz Republic, the academic circle in the field of financial accounting and/or audit and representatives of business environment in audit area is constituted by 3 (three) years.

8. The same person cannot be member of council more than two terms in a row.

9. For selection of members of council from the academic circle in the field of financial accounting and/or audit and business environment in audit area the order of the head of authorized state body from number of persons employed of authorized state body creates the contest committee and its structure in number of 5 (five) members affirms.

10. When carrying out tender the contest committee:

- determines terms of carrying out tender and regulations of work;

- determines questions for interview stage;

- considers the documents filed by participants of tender and makes the decision on the admission to tender;

- conducts interview with participants of tender;

- makes the decision on the recommendation of the selected alternate member of Council.

11. Competition is held in the following procedure:

- the publication of the announcement of carrying out tender on the website of authorized state body;

- documents acceptance from the citizens wishing to take part in tender;

- direct carrying out tender.

12. Carrying out tender includes the following stages:

- consideration of documents of participants of tender on compliance to requirements of part 4 of article 27 of the Law of the Kyrgyz Republic "About auditor activities";

- holding interview.

13. Duration of carrying out tender shall not exceed 30 working days from the date of the end of documents acceptance.

14. Meetings of the contest committee are held as required.

The meeting of the contest committee is considered competent if at it there are at least two thirds of its structure.

The decision of the contest committee is made by a simple majority vote her members who are present at meeting. In case of equality of votes the voice of the chairman is decisive.

Results of competitive selection are drawn up by the protocol which is signed by the chairman, the secretary and members of the contest committee participating in meeting.

15. Membership in Council stops in cases:

1) expirations of powers, stipulated in Item 7th this provision;

2) according to the statement of Audit Chamber of the Kyrgyz Republic in case of dismissal of her representative;

3) according to the application in person of the member of council about voluntary withdrawal of membership (having warned about it the written application in 2 weeks (14 calendar days);

4) nonparticipations in meetings of Council more than 3 (three) times, except as specified, when Council received the adequate written notice from the absent member that it cannot be present on reasonable excuse (in case of disability, disease, disease and/or the death of close relatives, child care or the incapacitated family member, stays on leave, business trip, stay outside the city or the country and unforeseen force majeur circumstances);

5) death of the member of council;

6) introductions in legal force of conviction of court against the member of council.

16. In case of the termination of membership of the member of council from the academic circle in the field of financial accounting and/or audit and business environment in audit area the authorized state body according to Item 12 of this provision makes selection of the new member, makes changes to structure of Council and approves it within 30 working days.

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