In order to ensure open access to information on corporate events, lists of affiliated persons, audit reports, and annual financial statements of organizations, including public-interest organizations (PIOs), a financial reporting depository operates in our country.
For reference: PIOs include financial institutions, endowment funds, joint-stock companies (except non-profit ones), subsoil users (except those extracting commonly occurring minerals), grain-receiving enterprises, developers and authorized companies in the area of shared construction, state enterprises with the right of economic management, subjects of state monopoly and special rights, as well as organizations with state participation and their affiliated legal entities.
PIOs are required to submit annual financial statements to the depository no later than August 31 of the year following the reporting year, except for inactive organizations and those declared bankrupt before January 1 of the reporting year.
In this regard, the Department of Internal State Audit for the city of Astana (the Department) contributes to enhancing the transparency of data by monitoring the depository and subsequently initiating the consideration of administrative liability for PIOs in cases of failure to meet deadlines, refusal or non-submission of statements, as well as evasion of mandatory audit.
The corresponding administrative liability is stipulated in Articles 239 and 250 of the Code of Administrative Offenses of the Republic of Kazakhstan.
For the elapsed period of the current year, the Department has brought 280 PIOs to administrative liability.
The total amount of imposed fines amounted to 98.7 million tenge.
The Department will continue systematic work to ensure the timely disclosure of financial statements and to prevent violations in this area.