INSPECTION FOR CONTROL OF AUDIT ACTIVITY TO BE CREATED AT RA MINISTRY OF FINANCE

Noyan Tapan
March 4, 2010

YEREVAN, MARCH 4, NOYAN TAPAN. At the March 4 sitting, the Armenian
government approved the draft decision on the creation of the
Inspection for Control of Audit Activity at the RA Ministry of Finance
and the approval of the inspection’s regulations and structure.

Minister of Finance Tigran Davtian said that with the introduction
of mandatory audit, control of audit has become important. "For
that reason we propose strengthening this function by establishing
a separate inspection which will enable to exercise proper control,"
the minister noted.

According to Armenian Prime Minister Tigran Sargsyan, thus the first
step is being taken to considerably improve audit control at the
Ministry of Finance, while the next step will be related to the
development of a draft law on creation of an independent body to
control the sector. "The purpose of introducing mandatory audit in
Armenia is to ensure transparent work of big enterprises," the prime
minister underlined, adding that this year hundreds of big enterprises
will prepare their financial reports with auditors’ conclusion.