INSPECTION FOR AUDIT ACTIVITY SUPERVISION TO BE CREATED IN ARMENIA
ArmInfo
2010-03-04 13:55:00
ArmInfo. Inspection for audit activity supervision will be created
in Armenia. The draft decision on creation of the inspection as well
as its regulations and structure were approved at today’s sitting of
the government.
By the decision of the government, the inspection will be created in
Finance Ministry of Armenia as a separate structure. Tightening of
supervision over the audit activity is connected with introduction of
the institute for obligatory audit in 2010, Armenian Finance Minister
Tigran Davtyan said.
Prime Minister of Armenia Tigran Sarkisyan said at the sitting of
the government that ‘The Institute of Obligatory Audit in Armenia
has been introduced to ensure transparency of the big companies’
activity. This year hundreds of big companies will publish their
financial reports together with the audit conclusion.’ He also added
this is the first step in this direction. On the second stage hey are
going to prepare a draft law on creation of an independent separate
structure to supervise the audit activity, Sarkisyan added.
To note, according to the alterations in the legislation, which were
adopted ny the parliament, in 2010 all the companies, the annual
turnover of which is more than 1 bln drams ($2,6 mln), should publish
their financial reports together with the audit conclusions.