PRESIDENTIAL DECREE OF THE REPUBLIC OF KAZAKHSTAN

of January 11, 2016 No. 167

About approval of General standards of the state audit and financial control and recognition No. 788 which voided the Presidential decree of the Republic of Kazakhstan of April 7, 2009 "About approval of Standards of the state financial control"

According to the subitem 1) Item 2 of article 8 of the Law of the Republic of Kazakhstan of November 12, 2015 "About the state audit and financial control" POSTANOVLYAYU:

1. Approve the enclosed General standards of the state audit and financial control.

2. Declare invalid the Presidential decree of the Republic of Kazakhstan of April 7, 2009 No. 788 "About approval of Standards of the state financial control" (SAPP of the Republic of Kazakhstan, 2009, No. 19, the Art. 165).

3. This Decree becomes effective after ten calendar days after day of its first official publication.

Approved by the Presidential decree of the Republic of Kazakhstan of January 11, 2016 No. 167

General standards of the state audit and financial control

1. General provisions

1. These General standards of the state audit and financial control (further - General standards) are developed according to the subitem 1) of Item 2 of article 8 of the Law of the Republic of Kazakhstan of November 12, 2015 "About the state audit and financial control" (further - the Law on the state audit) taking into account the principles of international standards of the state audit and financial control.

2. General standards contain fundamental requirements to activities of bodies of the state audit and financial control for the purpose of ensuring efficiency, the sequence and objectivity of carrying out the state audit and financial control.

3. The following standards belong to General standards:

1) "Independence";

2) "Ethics";

3) "Objectivity";

4) "Professional competence";

5) "Professional judgment";

6) "Accountability";

7) "Reliability";

8) "Transparency";

9) "Publicity";

10) "Confidentiality";

11) "Mutual recognition of results of the state audit";

12) "Management";

13) "Quality control".

4. General standards are obligatory to application by bodies of the state audit and financial control, the physical persons and legal entities involved in carrying out the state audit and financial control.

5. State bodies, public institutions, subjects of the quasi-public sector, and also receivers of budgetary funds treat objects of the state audit and financial control (further - objects of the state audit and financial control).

2. Independence standard

6. The purpose of the Independence Standard are ensuring impartiality, objectivity, reliability of estimates and recommendations of bodies of the state audit and financial control, statutory auditors, inadmissibility of any intervention encroaching on their independence when implementing the activities.

7. Bodies of the state audit and financial control, statutory auditors in all questions connected with implementation of the state audit and financial control are independent of objects of the state audit and financial control, are protected from external influences, orders and interventions.

8. Bodies of the state audit and financial control, statutory auditors functionally, organizationally are also financially independent of objects of the state audit and financial control.

9. Bodies of the state audit and financial control, statutory auditors do not allow any actions limiting their independence and objectivity.

10. Bodies of the state audit and financial control exercise the state audit and financial control according to the lists of objects of the state audit and financial control approved by them for the corresponding year.

11. Intervention in activities of bodies of the state audit and financial control at the choice of subject, object of the state audit and financial control, to the applied procedures, nature and amount of auditor proofs, scale of the state audit, methods of forming of the list of the objects of the state audit and financial control, its carrying out, creation and document distribution accepted by results of the state audit (further - documents), mechanisms of realization of results of the state audit, and also any actions which can affect independence and objectivity of statutory auditors for political, ideological, religious and other reasons is not allowed.

12. Judgments, the elicited facts, conclusions, the conclusions and recommendations of bodies of the state audit and financial control, statutory auditors shall be impartial, objective, reliable, competent, reliable and be those for the third parties.

13. Statutory auditors in case of accomplishment of the powers and job responsibilities keep independence of objects of the state audit and financial control, any external influence undermining their independence.

14. Bodies of the state audit and financial control are provided with necessary and sufficient labor, financial and material resources, control of which is exercised of them independently in the procedure established by the legislation. The state control and supervision of financial activities of the Highest auditor chamber of the Republic of Kazakhstan are performed by state bodies from consent or at the request of the President of the Republic of Kazakhstan.

15. Objects of the state audit and financial control provide free, timely and necessary access of bodies of the state audit and financial control for carrying out the state audit and financial control to all documents and information, including to the state and other information systems.

16. The cooperation of bodies of the state audit and financial control with state bodies, local representative and executive bodies, the organizations and their associations, and also bodies of other states and their international associations is allowed.

3. Ethics standard

17. The purpose of the Ethics Standard is ensuring compliance with ethical requirements and the principles of professional behavior by statutory auditors.

18. Ethical standards include ethical requirements for government employees, stipulated by the legislation the Republic of Kazakhstan about public service, and also special requirements, stipulated by the legislation the Republic of Kazakhstan about the state audit and financial control.

19. In behavior of statutory auditors and approaches when carrying out the state audit and financial control it is necessary to exclude any actions which can entail suspicions and accusations in non-compliance with ethical requirements and the principles of professional behavior.

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