Auditors of Kazakhstan and Azerbaijan exchanged best practices for conducting audits in the quasi-public sector

Employees of the Supreme Audit Chamber of Kazakhstan and the Chamber of Accounts of Azerbaijan exchanged experience on conducting performance audit in the quasi-public sector. The joint event was held in the format of a practical seminar.

Such events are held on a regular basis as part of the implementation of the interstate Comprehensive Program for the Development of Cooperation between Kazakhstan and Azerbaijan for 2024-2026.

SAC of RK presented its methodological tools, developments and approaches to conducting such audits using the example of the performance audit of asset management in United Chemical Company LLP and its subsidiaries.

This audit covered over 874 billion tenge. As part of it, auditors personally reviewed the implementation of investment projects in the chemical industry, actively requested the necessary information from government agencies and checked it with data from many other sources. As a result of comprehensive work, it was possible to identify a number of systemic shortcomings, for the elimination of which SAC developed the necessary recommendations.

The Kazakh auditors also informed colleagues from Azerbaijan about how they plan audits, what documents are included in the work and what regulatory legal acts in the field of state audit are based on.

In turn, representatives of the Chamber of Accounts of Republic of Azerbaijan informed in detail about the assessment of the effectiveness of Azerbaijan Investment Company OJSC and answered questions asked by Kazakh colleagues.

The parties discussed in a live format the difficulties faced by auditors, ways to solve them, as well as measures to improve the effectiveness of audit activities.

Such events between the Supreme Audit Institutions of Kazakhstan and Azerbaijan contribute to strengthening their capacity and developing bilateral cooperation between the two states.