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Ministry of Justice of Ukraine

May 24, 2017

No. 663/30531

ORDER OF THE MINISTRY OF FINANCE OF UKRAINE

of May 3, 2017 No. 480

About approval of the Procedure by the Ministry of Finance of Ukraine of assessment of functioning of system of internal audit

(as amended of the Order of the Ministry of Finance of Ukraine of 21.02.2019 No. 77)

According to Item 18 of the Procedure for formation of structural divisions of internal audit and carrying out such audit in the ministries, other central executive bodies, their territorial authorities and budgetary institutions relating to the sphere of the management of the ministries, other central executive bodies approved by the resolution of the Cabinet of Ministers of Ukraine of September 28, 2011 No. 1001, I order:

1. Approve the Procedure by the Ministry of Finance of Ukraine of assessment of functioning of system of internal audit which is applied.

2. In accordance with the established procedure to provide to department of harmonization of the state internal financial control submission of this order on state registration in the Ministry of Justice of Ukraine.

3. In ten-day time from the date of state registration of this order in the Ministry of Justice of Ukraine to provide to department of ensuring communications and organizational and analytical work its promulgation on the official website of the Ministry of Finance of Ukraine on the Internet.

4. This order becomes effective from the date of its official publication.

5. To impose control of execution of this order on the first deputy Minister Markarova O. S.

Minister

A. Danilyuk

Approved by the Order of the Ministry of Finance of Ukraine of May 3, 2017, No. 480

Procedure Ministry of Finance of Ukraine estimates of functioning of system of internal audit

I. General provisions

1. This Procedure determines the mechanism of the organization, carrying out, registration and realization of results of assessment of functioning of system of internal audit which is performed by the Ministry of Finance in the ministries, other central executive bodies, to Council of Ministers of the Autonomous Republic of Crimea, the regional, Kiev and Sevastopol city public administrations, other main managers of means of the government budget, their territorial authorities and budgetary institutions which belong to the sphere of their management (further - organizations).

2. Assessment of functioning of system of internal audit (external quality evaluation of internal audit) (further - quality evaluation) is carried out in the form of research and is not control action.

II. Organization and evaluating quality

1. The quality evaluation will be organized and carried out by officials of structural division of the Ministry of Finance to which function of provision of assessment of functioning of system of internal audit is assigned (further - responsible structural division of the Ministry of Finance), according to this Procedure.

2. The quality evaluation is preceded by studying and the analysis by responsible structural division of the Ministry of Finance of reports on results of activities of divisions of internal audit, results of internal quality evaluations and other information about their functioning obtained on requests of the Ministry of Finance.

If by results of such studying and the analysis of activities of divisions of internal audit it is revealed the questions requiring detailed research, the corresponding facts are considered when planning carrying out quality evaluations in organizations where such divisions are created.

3. The quality evaluation is carried out not more often than once in three years according to work plans of responsible structural division of the Ministry of Finance which are constituted and affirm in accordance with the established procedure.

4. In case of quality evaluation officials of responsible structural division of the Ministry of Finance research observance by the head and employees of division of internal audit of requirements of the resolution of the Cabinet of Ministers of Ukraine of September 28, 2011 No. 1001 "Some questions of implementation of internal audit and creation of divisions of internal audit", the Standards of internal audit approved by the order of the Ministry of Finance of Ukraine of October 4, 2011 No. 1247, registered in the Ministry of Justice of Ukraine on October 20, 2011 for No. 1219/19957 (further - Standards), and other regulatory legal acts concerning internal audit.

In case of quality evaluation are researched by officials of responsible structural division of the Ministry of Finance:

structure of division of internal audit, its organizational and functional independence, number of employees of division of internal audit and condition of its completion;

availability of internal documents concerning internal audit, their compliance to Standards;

planning of activities for internal audit;

organization of internal audits, in particular distribution of manpower, planning of internal audit and creation for its results of the internal audit program;

documentation of the course of internal audit and its results;

monitoring of accounting of recommendations and results of their implementation;

results of internal quality evaluations of internal audit;

accounting of recommendations about results of carrying out the previous quality evaluations;

reliability, completeness and timeliness of submission of the reporting on results of activities of division of internal audit;

condition of interaction of division of internal audit with structural divisions of organization;

availability of the program of providing and improvement of quality of internal audit and condition of its accomplishment;

other questions of activities for internal audit in organization.

5. Officials of responsible structural division of the Ministry of Finance receive from organization documents, reference materials, other information on the questions connected with quality evaluation. Such information is provided by organization according to the procedure and the terms determined by Item 17 of the Procedure of internal audit and creation of divisions of the internal audit approved by the resolution of the Cabinet of Ministers of Ukraine of September 28, 2011 No. 1001.

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