RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of April 25, 2023 No. 225

About approval of the Procedure for creation and provision of activities reports of auditing organization and professional auditor association

For the purpose of realization of part 15 of article 7 of the Law of the Kyrgyz Republic "About auditor activities", 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 the Procedure for creation and provision of activities reports of auditing organization and professional auditor association, according to appendix.

2. Bring in the order of the Government of the Kyrgyz Republic "About approval of the Regulations on procedure for submission of the reporting (information) and disclosure of information by subjects of the financial market" of September 4, 2018 No. 417 the following changes:

1) in preamble of the above-stated resolution of the word "About Auditor Activities"," to exclude;

2) in Regulations on the procedure for submission of the reporting (information) and disclosure of information by subjects of the financial market approved by the above-stated resolution:

- declare Item 34 invalid;

- declare appendix 10 invalid.

3. This resolution becomes effective after fifteen days from the date of official publication.

Appendix

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of April 25, 2023 No. 225

Procedure for creation and provision of activities reports of auditing organization and professional auditor association

Chapter 1. General provisions

1. This Procedure for creation and provision of activities reports of auditing organization and professional auditor association (further - the Procedure) establishes requirements to creation of activities reports of auditing organization, professional auditor association, including reports on results of quality control of audit of members of professional auditor association, reports on transparency of the auditing organization allowed to audit of subjects of public interest, subjects of big business (further - reports) and to their provision in authorized state body.

2. Reports are constituted for the accounting period from January 1 to December 31 calendar year and are represented to authorized state body no later than June 30 after the reporting period.

3. For for the first time the created auditing organization, the auditing organization allowed to audit of subjects of public interest of subjects of big business and professional auditor association the accounting period the period from the date of registration in the unified state register till December 31 of year of their creation is considered.

4. Cash indicators in the report are specified in national currency of the Kyrgyz Republic - som.

5. Reports are submitted in paper or electronic formats.

6. In case of insufficiency of lines in the specified tables of the report form for introduction of data independent addition in necessary quantity of lines in tables is allowed.

7. In the absence of data for specifying in this or that cell the crossed out section is put.

8. In the upper part of each leaf of the report the name of auditing organization, the auditing organization allowed to audit of subjects of public interest, subjects of big business, professional auditor association is specified, and in the lower part the signature of the head of auditing organization, the auditing organization allowed to audit of subjects of public interest, subjects of big business, professional auditor association according to report form is with own hand appended and date of filling of the report is specified. By provision of the report in electronic format the digital signature is used.

9. The authorized state body has the right to open the information provided in reports and which is the Kyrgyz Republic, public according to the legislation, on auditor activities.

10. The authorized state body has the right to request from auditing organization, the auditing organization allowed to audit of subjects of public interest and subjects of big business and professional auditor association, the additional information and documents necessary for the explanation or refining of reports according to the legislation of the Kyrgyz Republic on information of personal nature.

11. The staff of authorized state body bears responsibility for disclosure of the confidential information containing in reports, stipulated by the legislation the Kyrgyz Republic about auditor activities, information of personal nature, trade secret.

12. The auditing organization, the auditing organization allowed to audit of subjects of public interest, subjects of big business, and professional auditor association bear responsibility according to the legislation of the Kyrgyz Republic on offenses for the unreliable information provided in reports and non-execution of this Procedure.

Chapter 2. Activities report of auditing organization

13. The auditing organizations and auditing organizations allowed to audit of subjects of public interest, subjects of big business included in the unified state register, submit the activities report of auditing organization for the accounting period according to appendix 1 to this Procedure.

Chapter 3. The report on transparency of the auditing organization allowed to audit of subjects of public interest and subjects of big business

14. The auditing organizations allowed to audit of subjects of public interest, subjects of big business together with the activities report submit the report on transparency for the accounting period according to appendix 2 to this Procedure.

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