Court of Accounts
Republic of Moldova
december 14, 2017 • views 1267
On November 16th, 2017, in the Plenum of the Parliament we presented the Report on the administration and use of public financial resources and public assets in the 2016 budgetary year. The principle of legality served as the basis for our activity, using as a starting point the rights and obligations provided by the Constitution of the Republic of Moldova and, directly, by the Law of the Court of Accounts.
In the presentation from the tribune I mentioned that the report for the first time reflected the statutory obligations of the Court of Accounts (CoA) between October 2016 and September 2017. At the same time, I stated that the CoA was not a court of law, nor a punishment institution, but it was an institution that conducts external public audits.
The benefits of our reports are visible when the Parliament adopts or amends legislative acts, and audited entities, by implementing the Court's recommendations, are strengthening their activity. Audit findings often become benchmarks in the activity of government, law enforcement bodies, non-governmental organizations, and provide citizens with information about the use of money from their taxes. Thus, as the Supreme Audit Institution, we tend to gain the trust of citizens and provide real support to the Legislature and the Executive.
During the reporting period, 26 reports were approved with well-founded and objective findings related to the most acute economic and social problems in the country, and 1239 recommendations were submitted to 314 entities.
Besides, each of our reports has drawn attention to the fact that the Republic of Moldova must progress without compromising our future or the future of our children. Sustainable growth is needed to overcome economic hardship. To this end, public funds must be used in a regular manner, so public money can bring about a change in citizens' lives through appropriate policies and quality services. We also need to pay special attention to the transparency, effectiveness, efficiency and opportunity of using public funds, as these factors are as important as the amount of revenue collected in the budget.
As an institution that has earned well-preserved professional prestige and enjoys the trust of citizens, we work to support the Parliament and to promote through our recommendations economical and efficient use of public funds and assets. Given the economic and financial difficulties and the national experience of the last decade, there is no doubt that public funds must be ordered. Through our audits during the reference period, we have supported the proper use of public finances, and we will continue to work towards this goal in the future.
The Chairman of the Committee on Economy, Budget and Finance, the parliamentarian Mr. Stefan Creangă mentioned in the Committee's report that there was a major change in the structure of audits according to their types compared to the previous reporting period. Thus, the share of performance audits increased from 28% to 42%, financial audits from 16% to 35%, and the proportion of compliance audits decreased from 54% to 15%.
In this context, the parliamentarians have encouraged the CoA to improve the triennial and annual planning process based on the fraud and error risk criteria in the process of financial and public property management. At the same time, the Committee noted that the government institutions had not taken sufficient steps to implement the Court's previous recommendations.
The Court of Accounts is the only public authority of the Republic of Moldova with the role of auditing public finances and exercising control over the formation, management and use of public financial resources and the management of state property. The CoA performs independent, credible, transparent and professional audit missions in order to promote high standards of financial management for the benefit of the citizens of the Republic of Moldova.