Government approves bill on internal audit

Government approves bill on internal audit
ARKA, 11.02.2010

The government of Armenia has approved today a bill on Internal Audit. Finance minister Tigran Davtian said a law on internal audit was passed by the parliament in 2008, however, some of its clauses were criticized by international experts.
‘To make our law comply with international standards we have improved it in accordance with experts’ comments and observations,’ he said.
The minister said the main goal of the bill is to introduce the system of internal audit and expand the list of organizations which are subject to internal audit.
In his words, the bill specifies the concept of internal audit and the competence of bodies, which carry it out
He said internal audit departments at the presidential administration, parliament, Constitutional Court, government, judicial department are subordinated to heads of these bodies. The internal audit does not apply to Audit Chamber of Armenia and Central Bank.
“We have a bill which is 100% complies with international standards,’ Tigran Davtian said. M.M. -0-