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LAW OF THE REPUBLIC OF KAZAKHSTAN

of November 12, 2015 No. 392-V ZRK

About the state audit and financial control

(In edition of the Laws of the Republic of Kazakhstan of 11.01.2018 No. 135-VI ZRK, 26.12.2018 of No. 202-VI ZRK)

This Law governs the public relations connected with the state audit and financial control, determines powers and the organization of activities of bodies of the state audit and financial control.

Chapter 1. Basic provisions of the state audit and financial control

Article 1. The basic concepts used in this Law

In this Law the following basic concepts are used:

1) violations - acts (actions or failure to act) contradicting regulations of the legislation of the Republic of Kazakhstan and also to acts of objects of the state audit adopted for their realization;

2) the qualifier of violations - the document containing list of types of the violations revealed during the state audit with indication of the violated rules of law and the types of responsibility established by the laws of the Republic of Kazakhstan, and also methods of elimination of these violations corresponding to them;

3) subjects of the quasi-public sector - the state companies, limited liability partnerships, joint-stock companies, including national managing holdings, national holdings, the national companies, founder, the participant or the shareholder of which is the state, and also the affiliated, dependent and other legal entities who are affiliirovanny with them according to legal acts of the Republic of Kazakhstan;

4) shortcomings - acts (actions or failure to act) creating conditions for possible assumption of violations (risk of emergence of violations);

5) financial control - the activities directed to elimination of the violations revealed during the state audit;

6) the state audit - the analysis, assessment and check of management efficiency and use of budgetary funds, assets of the state, objects of the state audit, the connected grants, the state and guaranteed by the state loans, and also loans attracted under the guarantee of the state, including another, connected with budget implementation activities based on risk management system;

7) objects of the state audit and financial control (further - objects of the state audit) - state bodies, public institutions, subjects of the quasi-public sector, and also receivers of budgetary funds;

8) the statutory auditor - the government employee performing the state audit and (or) financial control having the certificate of the statutory auditor;

8-1) assistant to the statutory auditor - the government employee having professional knowledge in the field of financial accounting and audit, having the right to participate in the state audit;

9) rules of professional ethics of statutory auditors (further - rules of professional ethics) - the single code of ethical rules of conduct of statutory auditors developed and approved jointly by Calculating committee on control of execution of the republican budget and authorized body on internal state audit;

10) electronic state audit - the state audit performed remotely by means of use of information technologies.

Article 2. Legislation of the Republic of Kazakhstan on the state audit and financial control

1. The legislation of the Republic of Kazakhstan on the state audit and financial control is based on the Constitution of the Republic of Kazakhstan, consists of this Law and other regulatory legal acts of the Republic of Kazakhstan.

2. Operation of the legislation of the Republic of Kazakhstan on the state audit and financial control extends to the objects of the state audit located in the territory of the Republic of Kazakhstan, and also operating beyond its limits.

3. The state audit and financial control in special state bodies of the Republic of Kazakhstan is exercised in the procedures determined by the first heads of data of bodies for coordination with Calculating committee on control of execution of the republican budget and authorized body by internal state audit.

4. If the international treaty ratified by the Republic of Kazakhstan establishes other rules, than those which contain in this Law then are applied rules of the international treaty.

Article 3. State audit

1. The purpose of the state audit is increase in management efficiency and use of budgetary funds, assets of the state and subjects of the quasi-public sector.

2. Depending on the subject the state audit is subdivided into the following types:

1) external state audit which tasks are the analysis, assessment and check of effective and legal management of national resource (financial, natural, production, personnel, information) for ensuring dynamic growth of quality of vital conditions of the population and homeland security of the country;

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