The passage of this law is one of the requirements to receive more than $2 billion from the IMF and the United States.
The Verkhovna Rada adopted the general bill No. 10044-d on the reform of the Accounts Chamber. MP Yaroslav Zheleznyak reported this on Telegram on Wednesday, October 30.
According to him, the corresponding decision was supported by 240 people’s deputies.
The law provides significant reform to the work of the Court of Accounts in accordance with the standards of the International Organization of Supreme Audit Institutions (INTOSAI). A competitive selection of Chamber members with preferential voting rights for international experts was introduced and the number of members was reduced from 13 to 11.
The document also expands the powers of the Accounts Chamber, giving it the right to conduct audits of funds from local budgets, utility companies, extra-budgetary funds and funds received from international partner. The Chamber will be able to audit the consolidated financial statements of public sector entities and budgets.
At the same time, the law establishes the requirement for the Accounts Chamber to undergo an external assessment of its activities every five years and introduces clear parliamentary procedures for reviewing the institution’s reports.
The law also guarantees the political and financial independence of the Accounts Chamber and obligates the relevant committees of the Verkhovna Rada to review its reports and monitor the implementation of recommendations.
Yaroslav Zheleznyak recalled that the adoption of this law was one of the requirements for receiving financing from the IMF and the United States in the amount of more than $2 billion.
Let’s recall that in April the Verkhovna Rada dismissed seven members of the Accounts Chamber due to the expiration of their terms of office. Then only five members remained in the chamber, but the Rada insisted it could still make a decision.
It was also reported that last year the parliament renewed the Court of Accounts, contrary to the position of the G7.
Source: korrespondent
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