Rada supports reform of the Accounting Chamber
19 September 2024 15:59
On Thursday, 19 September, the Verkhovna Rada adopted the draft law on the reform of the Accounting Chamber as a basis. This was reported by "Komersant Ukrainian" reportsreports with reference to the parliament’s statement.
The green button was pressed by 246 MPs. “11 MPs voted against the bill. Forty-nine MPs abstained from voting.
The adoption of the document is one of the conditions for the United States to provide direct budgetary assistance ($500 million after the first reading and another $1 billion after the second).
What does the draft law 10044-d say?
The draft law provides for
- introduction of a competition with a predominant right to vote of international experts to select new members of the Accounting Chamber (AC);
- expanding the powers of the Accounting Chamber to audit local budgets, state-owned enterprises and extra-budgetary funds;
- establishing clear parliamentary procedures where the relevant committees of the Verkhovna Rada are obliged to review the reports of the Accounting Chamber and monitor the implementation of the Chamber’s recommendations;
- establishing that the Accounting Chamber should comply with the rules of the International Organisation of Supreme Audit Institutions (INTOSAI) and use the INTOSAI system of professional documents in its activities;
- strengthening the financial independence of the Accounting Chamber;
- reducing the number of members of the Accounting Chamber from 13 to 11;
- introduction of periodic external assessment by independent experts with international audit experience.
One of the co-authors of the draft law, MP Pavlo Frolov, noted that the bill initiates the reform of the Accounting Chamber, the key elements of which are the expansion of the Chamber’s powers to audit local budgets, state and municipal enterprises, and other business entities of the state and municipal sectors of the economy. It also expands the Chamber’s mandate to include public funds, social insurance, pension insurance, and the National Bank’s income and expenditures.
