Article 13-2. The Quality Control Committee of the Professional Council of the Law on Auditing

Home / RLA / Article 13-2. The Quality Control Committee of the Professional Council of the Law on Auditing

1. The quality control committee of the professional council consists of at least two non-practicing experts for a period of up to three years with at least ten years of audit experience, and (or) may include non-practicing experts with at least five years of audit experience, with an auditor qualification certificate, and (or) one of the international certificates in the field of auditing recognized by the International Federation of Accountants, and have not been held accountable for violating the requirements of the legislation of the Republic of Kazakhstan on auditing.

2. The exclusive competence of the quality control committee of the Professional Council includes:

1) control by checking the external quality control facilities of the professional council for compliance with the requirements for external quality control facilities of the professional council approved by the management Board;

2) conducting external quality control of the professional council's external quality control facilities;

3) submission to the management board for approval of the results of the external quality control of the external quality control facilities of the professional council;

4) development and approval, in agreement with the management Board, of the procedure for external quality control of audit organizations in accordance with the standard rules for external quality control of audit organizations, including the criteria for audits of audit and professional organizations approved by the authorized body;

5) posting the results of the external quality control of the professional council's external quality control facilities on the Professional Council's Internet resource;

6) excluded by the Law of the Republic of Kazakhstan dated 04/06/2024 No. 71-VIII (effective sixty calendar days after the date of its first official publication).

7) submission to the management board of a petition for the exclusion of an audit organization from membership in a professional organization;

8) control by conducting an audit of audit and professional organizations for compliance with the procedure for external quality control of audit organizations, except for the case provided for in subparagraph 1) the present paragraph.

3. Information constituting a commercial secret obtained by the quality control committee during external quality control of audit organizations is not subject to disclosure, except in cases provided for by the laws of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated November 20, 1998 No. 304.

 This Law regulates the relations that arise between government agencies, individuals and legal entities, auditors, audit organizations, professional audit organizations and the professional audit council in the process of conducting auditing activities in the Republic of Kazakhstan.

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Republic of Kazakhstan

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