No. 11-K dated 03.06.2025
SUPREME AUDIT CHAMBER OF THE REPUBLIC OF KAZAKHSTAN
AUDIT REPORT
"State audit of consolidated
financial statements of the republican budget"
Astana, 2025
AUDIT REPORT
Introduction
1.1. Name of the audit event: State audit of the consolidated financial statements of the republican budget.
1.2. Purpose of the state audit: Assessment of reliability and validity of the consolidated financial statements of the republican budget.
1.3. Objects of state audit: Republican state institutions "Treasury Committee of the Ministry of Finance of the Republic of Kazakhstan" (hereinafter referred to as the Treasury), "Ministry of Finance of the Republic of Kazakhstan" (hereinafter referred to as the Ministry of Finance).
1.4. Period covered by the state audit: from January 1, 2024 to December 31, 2024 (for analysis purposes and other periods).
3.3. Recommendations and instructions on the results of the state audit
Review the results of the state audit of the consolidated financial statements of the republican budget at a meeting of the Supreme Audit Chamber (in the form of an absentee meeting).
To the Ministry of Finance of the Republic of Kazakhstan by December 10, 2025:
1) make amendments and additions to the Rules for reflecting budget revenues in the annual consolidated financial statements on the execution of the republican, regional budget, budgets of the city of republican significance, the capital, the district budget (cities of regional significance), district (cities of regional significance) budget, budgets of the city of regional significance, village, settlement, rural district, approved by order of the Minister of Finance of the Republic of Kazakhstan dated May 26, 2017 No. 340, in the part providing for the procedure for calculating tax revenues for the purpose of reporting in the annual consolidated statement of financial performance;
2) amend the Chart of Accounts of State Institutions, approved by order of the Minister of Finance of the Republic of Kazakhstan dated June 15, 2010 No. 281, in terms of bringing clause 66 in line with clause 103 of the Rules for maintaining the taxpayer's personal account, calculation of the balance of settlements in the taxpayer's personal account for taxes, payments to the budget, social payments, fines, penalties, formation of information about absence (availability) of debts, which are recorded in the state revenue authority, as well as the provision of the state service "Offsetting and tax refunds, payments to the budget, penalties, fines," approved by order of the Minister of Finance of the Republic of Kazakhstan dated February 27, 2018 No. 306;
3) to develop format-logical control, providing for the exclusion of CIT receipts from persons who are not on the list of large businesses - payers of CIT RB;
4) provide in the Procedural Standard "Audit of Financial Statements," approved by Order of the Minister of Finance of the Republic of Kazakhstan dated April 24, 2017 No. 272, provisions allowing to express a reasonable opinion only in cases where the audit covers at least 50% of the components of financial statements (consolidated financial statements).
To the Internal State Audit Committee of the Ministry of Finance of the Republic of Kazakhstan:
- by July 1, 2025, consider the responsibility of officials who did not ensure compliance with the requirements of the law.
To the State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan:
- by April 1, 2026, take measures to reflect in the financial statements long-term financial investments in Market Rent Company LLP in the amount of 1,711.6 million tenge (accounted as of December 31, 2024), with state registration of rights to the state's participation in the authorized capital.
Treasury Committee of the Ministry of Finance of the Republic of Kazakhstan:
- by December 15, 2025, when drawing up the semi-annual CFS of the Republic budget for 2025, exclude the accrual of expenses on the actual amounts of return, in accordance with the Rules for reflecting budget revenues in the annual consolidated financial statements on the execution of the republican, regional budget, budgets of the city of republican significance, capital, district budget (cities of regional significance), district (cities of regional significance) budget, budgets of the city of regional significance, village, village, rural district, approved by order of the Minister of Finance of the Republic of Kazakhstan dated May 26, 2017 No. 340.