Specialists of the Supreme Audit Chamber shared their experience in auditing investment projects with colleagues from Azerbaijan

During the working trip to Baku, specialists of the Supreme Audit Chamber of Kazakhstan held a seminar on the exchange of experience for employees of the Chamber of Accounts of Azerbaijan. The event was organized as part of the implementation of the Action Plan on strengthening interaction between the two departments for 2024-2026.

The main topic of the seminar is the audit of the implementation of investment projects. Directors of the departments of the SAC of the Republic of Kazakhstan Lyailim Kashimova and Akylbay Ibrayev spoke on behalf of the Kazakhstani side. They told about the methodology and practice of conducting such audits in Kazakhstan.

In particular, issues such as the determination of criteria and indicators for the performance audit of investment projects, the specifics of its implementation, as well as audit quality control were touched upon.

In turn, representatives of the Chamber of Accounts of Azerbaijan also shared practical developments and experience in this area.

As Rashit Akhmetov, a Member of the Supreme Audit Chamber of the Republic of Kazakhstan, noted at the beginning of the seminar, the audit of investment projects plays a key role in ensuring their successful implementation and minimizing risks.

"This is an important tool to increase their efficiency and transparency", he underlined.

Rashit Akhmetov also informed the participants that the reform of the state audit system is continuing in Kazakhstan. Thus, as part of the constitutional changes, the status and powers of the SAC of the Republic of Kazakhstan were increased. Among them: the right to audit the funds of local budgets and the right to review the audit results of all state audit bodies in the country.

"The expansion of the competencies of the Supreme Audit Chamber requires the introduction on an ongoing basis of the best foreign practices, international standards, as well as systematic professional development of state auditors. Therefore, experience of the Chamber of Accounts of Azerbaijan is of great interest for us as well," he concluded.