RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of April 8, 2022 No. 195

About approval of the Regulations on committee on audit

For the purpose of implementation of the paragraph of the sixth Item 2 of article 1 of the Law of the Kyrgyz Republic "About financial accounting", according to articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Approve Regulations on committee on audit according to appendix.

2. This resolution becomes effective after seven days from the date of official publication.

Appendix

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of April 8, 2022 No. 195

Regulations on committee on audit

1. General provisions

1. This Provision establishes procedure for creation and work of the committee on audit created by the subject of public interest or the subject of big business (further - the subject) according to the legislation of the Kyrgyz Republic on financial accounting.

2. Purposes and tasks of committee on audit

2. The purpose of committee on audit (further - committee) is assistance to effective implementation of functions of the Board of directors of the subject regarding preliminary consideration of the questions connected with audit and control of financial and economic activities of the subject.

3. The main objectives of committee are:

1) supervision of forming of accounting (financial) records of the subject;

2) control of reliability and efficiency of functioning of internal control systems, risk management and corporate management;

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