LAW OF THE KYRGYZ REPUBLIC

of February 24, 2017 No. 35

About modification of the Law of the Kyrgyz Republic "About auditor activities"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on January 12, 2017

Article 1. Bring in the Law of the Kyrgyz Republic "About auditor activities" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2002, No. 10, the Art. 435) the following change:

to state part 2 of Article 4 in the following edition:

"Auditors during implementation of the professional activity have no right to be in public service and to be engaged in other paid activities, except scientific, pedagogical and other creative activities. Also auditors can be members of council of directors/committee on audit of banks, financial credit institutes and societies.

At the same time the auditor cannot:

- be the member of council of directors/committee on audit of bank if he carried out audit inspection of this bank within the last five years;

- carry out audit inspection of bank where it is the member of council of directors / Committee on audit or earlier was the member of council of directors/committee on audit within five years from the moment of its dismissal or voluntary retirement from post;

- carry out audit inspection of other competing banks if is the member of council of directors/committee on audit in any other bank.".

Article 2. This Law becomes effective after 15 days from the date of official publication.

To the government of the Kyrgyz Republic to bring the regulatory legal acts into accord with this Law.

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