Strengthening Audit Expertise: A Step Towards Improved Public Sector Auditing
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The Accounts Chamber of the Kyrgyz Republic (CAKR) has embarked on a strategic plan to enhance its role as an auditor of the entire public sector. To achieve this goal, audit experts will dedicate part of their time to consulting audit teams and implementing financial audits.
Financial Audit Process
To ensure a full practice of financial audit, the CAKR plans to:
- Strategically select several entities for financial audit each year
- Form financial audit teams comprising experienced and less experienced inspectors
Professional Development of Staff
The CAKR has a small number of inspectors with training and experience in financial auditing. These experts will:
- Continue conducting financial audits
- Transfer their skills to other inspectors, ensuring the expertise is passed on to the next generation of auditors
Strengthening Annual Planning and Reporting
As part of its strategic plan, the CAKR aims to improve annual planning and reporting by:
- Aligning annual work plans with the activities outlined in the Strategic Plan
- Expanding the volume of information provided in annual reports on the implementation of the Strategic Plan
Audit Reports
Starting from 2022, the CAKR plans to publish audit reports in full, except for those classified as “for official use,” “Secret,” and “Top Secret” in accordance with the decisions of the CAKR Council. Annual reports will also include more detailed information on the progress of implementing this Strategic Plan.
By dedicating part of their time to consulting audit teams and implementing financial audits, the CAKR is committed to strengthening its role as an auditor of the entire public sector. This strategic plan aims to ensure transparency and accountability in government entities’ financial reporting, ultimately benefiting the people of Kyrgyzstan.