ARMA did not take all seized assets under its management: results of the Audit Chamber’s audit
29 January 12:53
The National Agency of Ukraine for Finding, Tracing, and Managing Assets (ARMA) has conducted a full inventory of court decisions on the transfer of seized assets to its management, but has not yet taken over all the assets specified in the court rulings. This was reported by Komersant, citing the Accounting Chamber.
Monitoring by the Accounting Chamber showed that a number of critical comments regarding transparency and accounting for corrupt assets remain unfulfilled.
What problems did the Accounting Chamber find?
During the audit, the Accounting Chamber identified a number of systemic shortcomings that hinder the effective management and preservation of seized assets. In particular, these include:
- failure to record certain assets transferred by court decisions;
- incomplete reflection of assets in ARMA’s accounting records;
- lack of proper automation of accounting and control processes.
These shortcomings create risks of loss of economic value of assets and reduce the effectiveness of their further management.
What recommendations has ARMA already implemented?
In order to eliminate the identified violations, the Accounting Chamber provided the Agency with a number of recommendations. In response, ARMA reported on the implementation of some of them, in particular regarding:
- updating the Regulations on the Unified State Register of Seized Assets;
- determining ARMA’s performance indicators, in particular regarding the effectiveness of asset management;
- preparing draft acts of the Cabinet of Ministers of Ukraine on:
- methodology for determining the possibility of asset management;
- the procedure for selecting managers of simple and complex assets;
- the procedure for monitoring the effectiveness of asset management.
Which recommendations remained unfulfilled
At the same time, five key recommendations of the Accounting Chamber were not implemented within the specified time frame. These include, in particular:
- ensuring the full acceptance of assets provided for by court decisions into management and their subsequent effective management;
- regulating the interaction between ARMA and the prosecution and pre-trial investigation authorities;
- improving control over the effectiveness of asset management and establishing clear and transparent evaluation criteria;
- finalizing the Unified State Register of Assets and implementing the ARMA Asset Management System software product for automated accounting;
- providing ARMA with access to the Unified Register of Pre-trial Investigations.
Claims against the government
In addition, the Cabinet of Ministers of Ukraine also failed to implement four recommendations of the Accounting Chamber provided as a result of this audit.
What has changed at the legislative level
It should be recalled that in 2025, in order to implement the recommendations of the Accounting Chamber, Law of Ukraine No. 4503-IX was adopted, which:
- initiated the reboot of ARMA;
- provided for strengthening the institutional capacity of the Agency;
- introduced a stage of asset management planning even before their transfer to the manager;
- laid the foundation for comprehensive changes in approaches to the management of seized assets.
Overall status of implementation of recommendations
Overall, out of the 16 recommendations provided by the Accounting Chamber:
- 7 recommendations have been implemented;
- 9 are in the process of being implemented.
The Accounting Chamber has stated that it will continue to monitor the implementation of the recommendations and will keep the public informed about their progress.
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