Audit Activities of the Accounts Committee for Control over Execution of the Republican Budget of the Republic of Kazakhstan: Analysis and Evaluation of Key Indicators

Abstract

Object: To analyze and evaluate key indicators of audit activities of the Accounts Committee for Control over Execution of the Republican Budget of the Republic of Kazakhstan.Methods: Statistical methods of analysis and correlation and regression method.Results: By examining key indicators of audit activities of the Accounts Committee for Control over Execution of the Republican Budget of the Republic of Kazakhstan, we revealed the dependence of the number of established violations of the law on the amount of funds covered by the state audit, on the number of objects covered by the state audit, and the number of audit and expert-analytical activities. Authors put forward hypotheses on the presence and direction of the relationship between indicators: Number of Established Violations of the Law, Amount of Funds Covered by the State Audit, Number of Objects Covered by the State Audit and Number of Audit and Expert-Analytical Activities. Correlation and regression analysis was carried out to prove or refute these hypotheses. This analysis confirmed one of the three hypotheses: negative relationship between the number of violations of the law and the number of audit and expert-analytical activities.Conclusions: Key indicators of audit activities of the Accounts Committee for Control over Execution of the Republican Budget of the Republic of Kazakhstan studied on the basis of confirmed hypothesis showed that analysis, evaluation and verification of the effectiveness of management and use of budgetary funds, state assets, and objects of state audit are carried out successfully. This conclusion confirms the purpose of the state audit, which consists in making recommendations to eliminate detected shortcomings. As a result of the state audit, conclusion reflects the short-comings found and the advice on their correction. Concurrently, effective reco mmendations are presented based on the identified shortcomings and proposals for risk management.