Principles and objectives of internal financial audit

In accordance with the provisions of part 5 of article 160.2-1 of the BC RF since 01.01.2020 internal financial audit (hereinafter - the of Spa by) will be carried out in accordance with the Federal standards for internal financial audit established by the Ministry of Finance. The chief administrators of budget funds and the administrators of budget funds that implement VFA will have to issue their departmental (internal) acts that ensure the implementation of internal financial audit on the basis of such standards. The Ministry of Finance website contains three draft standards for this audit. In this article, we will consider its main principles and objectives.