Press release on holding a meeting on the establishment and functioning of the Professional Audit Council

On July 27, 2021, the Ministry of Finance of the Republic of Kazakhstan held a meeting on the establishment and functioning of the Professional Audit Council in the videoconference mode.

The establishment of a Professional Council institution is provided for by the Law on Auditing, which entered into force in July of this year.

The Ministry of Finance, as a regulator, is interested in the proper functioning of the supervisory authority.

Thus, the professional audit council is established by professional audit organizations within three months from the date of entry into force of this Law.

Today there are 7 professional audit organizations operating in Kazakhstan.

The meeting was attended by all interested parties, including the «Astana» International Financial Center, «Kazakhstan Stock Exchange» JSC, professional audit organizations.

During the meeting, the Director of the Department of Accounting Methodology, Audit and Evaluation Bekturova A. noted the need for an opinion agreed by the entire audit community on the creation and registration of this body.

As a result of the discussion, the participants of the meeting supported the need for further constructive dialogue on the procedures for the creation and functioning of audit supervision.