of July 30, 2002 No. 134
About auditor activities
Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on June 28, 2002
This Law governs the relations arising when implementing auditor activities in the Kyrgyz Republic.
Auditor activities (auditor services) represent business activity on independent verification (audit) of the financial reporting of the organizations and individual entrepreneurs (further - the audited faces) and to rendering the accompanying services.
The purpose of audit is increase in degree of confidence of users in reliability of the financial reporting in all its essential aspects according to applicable bases of accounts presentation.
The basis of accounts presentation is understood as International accounting standards and (or) other accounting standards according to which the financial reporting is prepared.
Materiality is understood as such degree of accuracy of data of the financial reporting which allows the user of this reporting to draw on its basis the correct conclusions about financial and property status, and also about results of economic activity of the audited faces and to make the reasoned decisions which are based on these conclusions.
Are understood as the services accompanying audit:
- overview of the financial reporting;
- accomplishment of obligations according to the approved procedures;
- collection and processing of financial information.
Auditing organizations and individual auditors are forbidden to be engaged in any other business activity, except carrying out audit and rendering the services provided by this Article.
Auditing organizations and individual auditors along with auditor services can render the services connected with auditor activities including:
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The document ceased to be valid since June 7, 2022 according to part 3 of article 29 of the Law of the Kyrgyz Republic of December 3, 2021 No. 147