10.07.2024

On July 9, President Shavkat Mirziyoyev got acquainted with the presentation of proposals on strengthening financial control over the budget spending.

Today’s global crises have a significant impact on the economy. The process of accumulation of funds is becoming increasingly complex. In such an environment, the efficient use of available resources, economy and accuracy are essential.

At the video conference on economic priorities held on January 16 this year, the Head of State separately discussed the efficiency of budget expenditures and gave instructions to strengthen financial control.

As is known, this function is performed by the Accounting Chamber of the Republic of Uzbekistan. In the current system, only budget and trust fund expenditures are subject to external audit. This represents 86 percent of total expenditure.

It was therefore proposed that the Accounting Chamber conduct an external audit of the implementation of the consolidated budget. This would cover expenditures from extra budgetary funds and external debt.

The Accounting Chamber intends to introduce the practice of strategic audit, aimed at assessing possible risks in achieving national goals and objectives in the state programs, as well as IT auditing on software efficiency in state organizations.

In our country, there are about 30 thousand budgetary organizations and state enterprises, the study of which on the ground requires a lot of time and money. Therefore, the “Remote Control Centre” has been launched in the Accounting Chamber. The need to improve 36 criteria and indicators of risk analysis based on the best foreign experience was noted.

In recent years, significant funds have been allocated for the development of the regions. However, local councils when discussing the budget are mostly limited to the regional or district budget. This means that 65 to 70 percent of the funds allocated to each region from all sources remain beyond their control.

In this regard, it was noted that the Accounting Chamber should discuss the budget process not only in the chambers of the Oliy Majlis, but also in local councils.