The Department of Internal State Audit of the Turkestan region, during a preventive control visit to the audited entity concerning the state communal enterprise "OTYRAR-QYZMET" of the Otyrar District Akimat, identified violations in the organization of accounting and the preparation of financial statements.
The audit established that the enterprise has not coordinated or approved an accounting policy necessary for maintaining accounting records and preparing financial statements. Consequently, compliance with the established requirements of legislation regulating accounting and financial reporting, as well as the provisions of International Financial Reporting Standards (IFRS), has not been ensured.
Furthermore, it was found that the presented accounting policy does not comply with the current requirements of International Financial Reporting Standards (IFRS), indicating an insufficient level of methodological support for the accounting process at the enterprise.
Based on the results of the preventive control, it was noted that the absence of an approved and compliant accounting policy creates risks of inaccurate reflection of financial information and reduces the transparency of the enterprise's financial and economic activities.
In this regard, the Department of Internal State Audit of the Turkestan region provided appropriate recommendations to bring the accounting policy into compliance with the requirements of current legislation and international standards, as well as for its proper approval and implementation in accounting practice.
Work on preventing violations and improving the quality of financial reporting in state enterprises continues on a systematic basis.