LAW OF THE REPUBLIC OF TAJIKISTAN

of July 22, 2013 No. 993

About auditor activities

This Law determines the legal basis of auditor activities and governs the public relations arising in the course of its implementation.

Chapter 1. General provisions

Article 1. Basic concepts

In this Law the following basic concepts are used:

- audit - the inspection which is carried out by the individual auditor or auditing organization based on the agreement according to the request of the customer according to audit standards for the purpose of expression of independent opinion on reliability and compliance to requirements of the international or national accounting standards and the other information connected with the financial reporting;

- auditor activities - business activity on carrying out audit and other related services performed by the individual auditor or auditing organization;

- external audit - the inspection which is carried out concerning the audited subject by the individual auditor or independent auditing organization, not accountable to its management;

- internal audit – activities for provision of the independent and objective guarantees and consultations directed to organization activity enhancement. Internal audit, using the systematized and consecutive approach to assessment helps the organization to achieve effective objectives, to increase in process performance of risk management, control and corporate management;

- statutory audit - annual check of financial accounting and the financial statement of legal entities;

- initiative audit - the audit booked at the initiative of the audited subject or other audit client taking into account specific obligations, terms and audit scopes;

- authorized body of state regulation of auditor activities (further - authorized state body) the central executive body of the government regulating auditor activities;

- auditor group – partners, the staff of the organization or the staff of the organization in network, except for the external expert of the auditor, attracted to accomplishment of the audit engagement;

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