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LAW OF THE REPUBLIC OF TAJIKISTAN

of July 21, 2010 No. 626

About financial management and internal control in public sector

(as amended of the Law of the Republic of Tajikistan of 08.06.2022 No. 1887)

This Law establishes the organizational and legal basis of system of financial management and internal control in the public sector and the organizations financed by the Government budget of the Republic of Tajikistan (further the organizations of public sector).

Chapter 1. General provisions

Article 1. Basic concepts

In this Law the following basic concepts are used:

- financial management - set of obligations on accomplishment of the tasks set for the main manager, the manager and the receiver of public funds, for the purpose of ensuring compliance with regulatory legal acts, the available funds allocated for effective and productive use;

- stable financial management - set of decisions, measures and the actions allocated for use of the available funds according to the legislation of the Republic of Tajikistan and economical, effective and productive management of them;

- internal control - system of financial and other control facilities in the organizations of public sector, including organizational structure, methods, procedures and internal audit, created by management for the purpose of assistance to implementation of legal, effective, productive activities and goal achievement of the organization;

- internal control system - system of the measures and procedures adopted by management of the organization of public sector for achievement of productive, economical and effective management of public funds, including financial accounting, the financial reporting, compliance with law of the Republic of Tajikistan, ensuring safety of assets, prevention and identification of illegal actions, reliability, correctness and adequacy of the financial and management reporting and information and also their preparation;

- the annual statement about internal control in state sektoreotcht the Ministries of Finance of the Republic of Tajikistan to the Government of the Republic of Tajikistan which includes data on condition of financial management and control in the organizations of public sector.

Article 2. The legislation of the Republic of Tajikistan on financial management and internal control in public sector

The legislation of the Republic of Tajikistan on financial management and internal control in public sector is based on the Constitution of the Republic of Tajikistan and consists of this Law, other regulatory legal acts of the Republic of Tajikistan, and also the international legal acts recognized by Tajikistan.

Article 3. Creation of internal control system in public sector

1. Creation of internal control system in the organizations of public sector is obligation of the head of the organization and is directed for implementation of financial management in all structures, programs, types of activity and actions directed by them according to the principles of legality, systemacity, planned character, publicity, stable financial management and transparency.

2. The internal control system in the organizations of public sector is created for achievement:

- reliability and integrity of financial and management information;

- effectiveness, profitability and efficiency of activities of state bodies and organization of public sector;

- safety of assets;

- compliances with law of the Republic of Tajikistan.

Chapter 2. Authorized state body in the sphere of financial management and internal control in public sector

Article 4. Authorized state body in the sphere of financial management and internal control in the organizations of public sector

1. Authorized state body in the sphere of financial management and internal control in the organizations of public sector (further - authorized state body) is the Ministry of Finance of the Republic of Tajikistan.

2. For the purpose of harmonization and coordination of financial management and internal control in the organizations of public sector the authorized state body performs the following activities:

- develops and performs policy of internal financial control according to the acknowledged international standards and standards and the legislation of the Republic of Tajikistan;

- carries annually out the state-of-the-art review of activities of all structural divisions of internal audit of state bodies and organizations of public sector and by results of the overview provides the analytical conclusion;

- issues the orders on carrying out monitoring of financial management and control obligatory for execution by all state bodies and organizations of public sector;

- annually by May 1 submits to the Government of the Republic of Tajikistan the annual statement about condition of internal control in the organizations of public sector;

- assists advanced training and retrainings of specialists of financial bodies concerning financial management and internal control in the organizations of public sector and coordinates work in the field;

- performs other powers, stipulated by the legislation the Republic of Tajikistan.

Chapter 3. Management reporting and responsibility

Article 5. The management reporting in the organizations of public sector

1. The management reporting represents obligation of the head of the organization of public sector to represent to higher body and authorized body information on observance of requirements of stable financial management constituted on the basis of reliable data and analysis results of internal control system.

2. Observance of requirements about forming of the management reporting serves achievement of transparency, comparability of information on property status of the organization of public sector, and also their income and expenses which is necessary for users of this reporting.

Article 6. Provision of the report

1. The first heads of the organizations of public sector provide the reports to the Ministry of Finance of the Republic of Tajikistan with information on functioning, adequacy, efficiency and effectiveness of systems of financial management and internal control no later than April 1 of the current year for previous year.

2. The form and procedure for provision of such report is established in methodical instructions of authorized state body.

Article 7. Obligations of heads of the organizations of public sector and other organizations entering industry management system

Obligations of the first heads of the organizations of public sector and other organizations entering industry management system consist from:

- determinations of the purposes and tasks of the organizations which direct, development and accomplishment of the long-term (strategic) plans, action plans and programs directed to achievement of effective objectives and tasks;

- specifications, estimates and risk managements, menacing to goal achievement and tasks of the organization;

- planning, management and accounting of public funds for the purpose of goal achievement and tasks of the organization;

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