INTERNAL AUDIT TO BE INTRODUCED AT STATE INSTITUTIONS OF ARMENIA

Noyan Tapan
Jan 31, 2008

YEREVAN, JANUARY 31, NOYAN TAPAN. At the January 31 sitting, the
Armenian government approved the bill on internal audit and the
bill on the treasury system. In particular, the bill on internal
audit envisages introduction of a united system of comprehensive
assessment of the activities of state and local government bodies,
institutions under their jurisdiction, state and community non-profit
organizations. Karen Brutian, the head of the purchase process
regulation and budgetary methodoloy department of the RA ministry
of finance and economy, informed reporters about it. According to
him, the introduction of the internal audit system is mainly aimed
at improvement of the activities of organizations, as well as at
prevention and correction of inaccuracies and violations.

K. Brutian said that unlike the current centralized system when the
ministry assesses the financial activities of organizations, the
new system envisages expanding the assessment function by including
nonfinancial functions as well. He explained that an internal audit
service will function at each organization (under the direct authority
of the organization’s head). The service will be composed of experts
who received a qualification from the RA ministry of finance and
economy.