PARLIAMENT TO CREATE PERMANENT COMMISSION FOR PUBLIC FINANCIAL CONTROL

A permanent commission for public financial control will be established in the Parliament for considering the reports from the Accounts Chamber. Corresponding amendments and additions to the legislature regulation were approved by the parliamentary Standing Committee on Legal Affairs, Appointments and Immunity on Wednesday.

The new commission will be fulfilling the following goals: ensuring of legal basis for external public audit; organizing higher audit institutions; consideration of annual and audit reports submitted by the Accounts Chamber and the inspected organizations; consideration of petitions and organizing audiences for citizens concerning the using of property; parliamentary control over the activity of central and local authorities on ensuring the observance of legislation on using state financial resources.

The Standing Committee members maintain that the creation of a permanent commission will allow raising the transparency of state money using and the authorities' responsibility.

The Accounts Chamber will be annually conducting audit of governmental reports on state budget execution, social insurance and mandatory medical insurance funds. These reports should be presented before June 1 and be heard at the Parliament plenary sittings.

The Parliament will also have to hear the Accounts Chamber annual report before May 1, while before September 15 - its annual report on administrating and using state finance resources.