ORDER OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF MOLDOVA

of October 12, 2012 No. 114

About approval of Regulations of activities of Council of the state internal financial control

For implementation of provisions of the item (3) Art. 30 of the Law No. 229 of September 23, 2010 on the state internal financial control (The official monitor of the Republic of Moldova, 2010, No. 231-234, 730) I Order to the Art.:

1. Approve Regulations of activities of Council of the state internal financial control according to appendix No. 1.

2. Approve nominal structure of Council of the state internal financial control, according to appendix No. 2.

3. This order becomes effective from the date of publication.

Appendix No. 1

to the Order of the Ministry of Finance of the Republic of Moldova of October 12, 2012 No. 114

Regulations of activities of Council of the state internal financial control

I. General provisions

1. The regulations of activities of Council of the state internal financial control establish criteria of appointment of members of council, their powers, the right and obligation, and also management and the organization of activities of Council.

2. Council of the state internal financial control (further - Council) is created with the advisory purpose under the Ministry of Finance for monitoring of development of system of the state internal financial control.

II. Structure and criteria to destination members of council

3. According to Law No. 229 provisions of September 23, 2010 on the state internal financial control representatives of the Ministry of Finance, divisions of internal audit, teaching personnel with scientific degree, specialists of the public sector are part of Council.

4. Council consists of eleven members (including, the chairman and the vice-chairman of Council) appointed the Minister of Finance for four years.

5. Members of council are appointed according to the following criteria:

a) the higher education in economic and financial and/or legal area;

b) work experience at least five years in audit area, management (including financial management), public control or the academic circle;

c) ownership of state language;

d) lack of unspent criminal convictions.

III. Powers, rights and obligations of Council

6. The mission of Council consists in provision of support to the Ministry of Finance on ensuring optimum level of understanding of benefit, the state internal financial control from managers of public subjects owing to which public means will be used according to criteria of proper management.

7. The principles of activities of Council are determined proceeding from the mission of this Council and consist in:

i) ensuring independence and impartiality in decision making;

ii) objectivity and transparency of activities.

8. Council has the following powers:

a) coordination of drafts of regulations in the field of the state internal financial control;

b) coordination of the summary annual statement about the state internal financial control;

c) implementation of the operating monitoring and consideration of functionality of system of the state internal financial control;

d) introduction of offers and recommendations for development of internal audit and the existing systems of financial management and control;

e) provision of support to the Ministry of Finance in decision making on development of system of the state internal financial control;

f) monitoring of execution of plans of activities of the Central management for harmonization;

g) monitoring of certification process and continuous professional development of internal auditors;

h) consideration of the appeals provided to the Commission on certification of internal auditors in the public sector;

i) consideration of other general/strategic subjects connected with development of system of the state internal financial control.

9. Council has the following rights:

a) represent suggestions for improvement of the existing regulatory base in the field of the state internal financial control;

b) request from public subjects necessary documents for execution of the powers.

10. Council has the following obligations:

a) provide independence and impartiality in decision making, and also objectivity and transparency of the activities;

b) provide annually to the Minister of Finance on approval the plan of activities and expense budget, as necessary;

c) provide to the Minister of Finance annual statements about activities.

IV. Organization of activities of Council

11. The chairman of the board manages activities of Council and has the following powers:

a) presides over meetings of Council;

b) establishes the place and date of meeting and approves the agenda;

c) provides execution of powers of Council, and also performs monitoring of execution of decisions of Council;

with-1) offers the Minister of Finance of change of nominal structure of Council;

d) signs the minutes of Council;

e) provides annually to the Minister of Finance the activities report of Council.

12. Council has at the disposal of the secretary who is employee of division on harmonization of the state internal financial control within the Ministry of Finance.

13. The secretary of Council has the following powers:

a) develops the draft of the agenda, prepares materials and sends them to members of council at least in 10 days prior to date of meeting;

b) constitutes the protocol on each meeting and ensures their safety;

c) develops the draft of the annual statement about activities of Council;

d) other functions of the secretariat for high-quality holding meetings of Council.

14. Meetings of Council are convened by the chairman and held as required, but at least once a year.

15. Members of council can ask the chairman about convocation of meeting For suggestions and have the right to offer subjects for inclusion in the agenda.

16. The meeting of Council is considered consultative if most of members of council participates in it. In case of impossibility of participation in meeting of Council, the member of council appointed by the order of the Minister of Finance delegates other competent person for participation in meeting. The member of council informs the secretary of Council on delegation of other person, at least, by e-mail.

17. Decisions of Council (delegated person) are made by a majority vote members. Each member of council has the right to one voice.

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