Saturday02 November 2024
manipulyator.in.ua

The State Duma endorsed the reform of the Audit Chamber.

"Major Overhaul Alert: A Game-Changing Reform for Financial Oversight Just Passed! Discover how this new law will transform accountability, empower international experts, and ensure transparency in public funds. You won't believe the implications for the future of financial governance!"
Рада одобрила реформу Счетной палаты.

The Verkhovna Rada has approved the draft law №10044-d concerning the reform of the Accounting Chamber. This was reported by MP from the "Golos" faction, Yaroslav Zheleznyak.

240 deputies voted in favor of this decision.

The document includes the following innovations:

  • a competition with the preferential voting rights of international experts for the selection of new Chamber members;
  • political and financial independence of the Accounting Chamber;
  • reduction of members from 13 to 11;
  • granting the Accounting Chamber powers to conduct audits of local budget funds, municipal enterprises, off-budget funds, resources received from international partners, as well as consolidated financial reporting of public sector entities and budgets;

  • the obligation for the Accounting Chamber to undergo external evaluations of its activities every five years, and establishing a special procedure for conducting such evaluations during the transitional period, among other things;
  • alignment of operations with international INTOSAI standards;
  • creation of clear parliamentary procedures, whereby relevant committees of the Rada are required to review the reports of the Accounting Chamber and monitor the implementation of its recommendations.

The adoption of the law is a requirement of the International Monetary Fund and the United States.