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DECISION OF THE EURASIAN INTERGOVERNMENTAL COUNCIL

of September 8, 2015 № 6

About approval of the acts regulating questions of carrying out audit of financial and economic activities of bodies of the Eurasian Economic Union

According to Item 6 of article 16 of the Agreement on the Eurasian Economic Union of May 29, 2014, and also taking into account the paragraph of 3 Item 3 of article 99 of the specified Agreement the Eurasian intergovernmental council decided:

1. Approve enclosed:

Regulations on audit of financial and economic activities of bodies of the Eurasian Economic Union;

standards and methodology of audits of financial and economic activities of bodies of the Eurasian Economic Union.

2. Determine that carrying out audit of financial and economic activities of the Euroasian economic commission for the period, preceding the date of entry into force of the Agreement on the Eurasian Economic Union of May 29, 2014, is performed by representatives of bodies of the state financial control of those states which during the specified period were members of the Customs union and the Common economic space, according to Regulations on audit of financial and economic activities of bodies of the Eurasian Economic Union, and also the standards and methodology of audits of financial and economic activities of bodies of the Eurasian Economic Union approved by this Decision.

3. This Decision becomes effective after 10 calendar days from the date of its official publication.

Members of the Eurasian intergovernmental council:

From the Republic of Kazakhstan

From the Republic of Armenia

From the Kyrgyz Republic

From Respuliki Belarus

From the Russian Federation

Approved by the Decision of the Eurasian intergovernmental council of September 8, 2015 № 6

Regulations on audit of financial and economic activities of bodies of the Eurasian Economic Union

I. General provisions

1. This Provision is developed according to the Agreement on the Eurasian Economic Union of May 29, 2014, and also the Regulations on the budget of the Eurasian Economic Union approved by the Decision of the Supreme Euroasian economic council of October 10, 2014 №78 for implementation of financial control of budget implementation of the Eurasian Economic Union (further – the Union).

Control actions according to financial and economic activities of body of the Union (further – control actions) are performed by the group of auditors consisting of representatives of bodies of the state financial control of state members of the Union (further – auditing group).

Control actions are subdivided on planned and unplanned and performed by means of carrying out planned audits and unscheduled inspections.

Under the organization and carrying out control actions, and also in case of registration of their results it is necessary to be guided by this Provision, Standards and methodology of audits of financial and economic activities of bodies of the Eurasian Economic Union.

2. Audit of financial and economic activities of body of the Union is carried out according to the decision of the Eurasian intergovernmental council (further – Intergovernmental council) following the results of budget implementation of the Union for accounting financial year at least once in two years.

Unscheduled inspections of body of the Union for single questions of financial and economic activities can be carried out at the initiative of one of state members of the Union in case of submission by the Prime Minister of state member of the Union of the relevant proposal to Intergovernmental council.

3. When implementing control actions the auditing group controls:

observance of acts of bodies of the Union, regulatory legal acts in the field of the budget legislation and other acts of the legislation of the state of stay of body of the Union in course of execution of the budget of the Union;

reliability, completeness and compliance to normative requirements of conducting budget accounting and creation of budget reports of body of the Union in the inspected period.

4. Audit of body of the Union for the purpose of this provision is understood as complex check of activities of body of the Union which is expressed in carrying out control actions for check of legality of all committed financial and economic activities of body of the Union, reliability and correctness of their reflection in budget reports.

Check of body of the Union for the purpose of this provision is understood as making of control actions according to legality separate financial and economic transactions of body of the Union, reliability of budget reports concerning activities of body of the Union (further – check of body of the Union).

Carrying out audit of earlier checked body of the Union for the same inspected period is not allowed.

Results of audit, check of body of the Union are drawn up by the act of audit (check) of financial and economic activities.

II. Purpose and tasks of audit (check) of body of the Union

5. The purpose of audit of body of the Union is implementation of the subsequent control of respecting the rule of law of economic and financial activities in the inspected period, reliability and correctness of their reflection in budget accounting and budget reports.

6. The main objective of audit of body of the Union is assessment of legality of financial and economic activities of body of the Union in the following directions:

compliance of implementation of financial and economic activities to acts of bodies of the Union, to regulatory legal acts in the field of the budget legislation and to other acts of the legislation of the state of stay of body of the Union in course of execution of the budget of the Union;

execution of budget list of body of the Union (use of budgetary funds by body of the Union for purpose, ensuring safety of money and inventory items, calculations for compensation and other settlings with advance holders);

calculations with the budget of the state of stay of body of the Union and the state (non-state) budget (off-budget) funds of state members of the Union;

settlings with legal entities and physical persons according to the legislation of the state of stay of body of the Union;

completeness and reliability of budget reports about economic and financial activities of body of the Union in the inspected period.

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