V EUROSAI-ARABOSAI Joint Conference December 7-9, 2015, Doha, Qatar

Accounting Chamber of UkraineAccounting Chamber of Ukraine

““Role of SAIs in monitoring the Role of SAIs in monitoring the implementation of bailout plans”implementation of bailout plans”

Mr. Roman Maguta Mr. Roman Maguta Chairman of the Accounting Chamber of UkraineChairman of the Accounting Chamber of Ukraine

Accounting Chamber of Ukraine − independent Accounting Chamber of Ukraine − independent Supreme Body of External Financial Control, Supreme Body of External Financial Control,

operates on behalf of the Parliamentoperates on behalf of the Parliament

• The powers of the Accounting The powers of the Accounting Chamber of Ukraine are fixed Chamber of Ukraine are fixed in the Constitution of Ukraine in the Constitution of Ukraine

• The new Law of Ukraine The new Law of Ukraine “On the Accounting Chamber”“On the Accounting Chamber”has been adopted on July has been adopted on July 22,, 2015 2015

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Main anti-crisis actions Main anti-crisis actions following the following the G-20 G-20 London Summit London Summit

((April, April, 1-21-2, , 2009): 2009):

• Increase of the IMF resources to help most crisis-hit countries

• Fight against “tax havens”

• Regulation of bonus payments to management companies and banks

• National packages of tactical measures

• Tighter control over financial markets

• Ensuring sustainability of national economies

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Anti-crisis actions in Anti-crisis actions in Ukraine since 2014Ukraine since 2014

In 2014 the Parliament In 2014 the Parliament of Ukraine in order of Ukraine in order to overcome social and economic crisis:to overcome social and economic crisis:

•approved the Government Action Program

•adopted the Law of Ukraine “On prevention of financial catastrophe and creation of prerequisites for economic growth in Ukraine”

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Activities of the Accounting Chamber Activities of the Accounting Chamber of Ukraine aimed at implementation of Ukraine aimed at implementation

of bailout plansof bailout plans

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Main priorities:

•monitoring the situation in order to prevent crisis manifestations

•control over Governmental Stabilization Fund expenditures

•analysis of state programs implementation

Activities of the Accounting Chamber of Activities of the Accounting Chamber of Ukraine aimed at implementation Ukraine aimed at implementation of anti-crisis actions since 2014of anti-crisis actions since 2014

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Changes in planning and activity management of the Accounting Chamber of Ukraine subsequent

to the anti-crisis actions taken by the Parliament of Ukraine

New priorities in control over budget expenditures:

•National defense

•Public safety

•Judicial branch

•Finance and banking

•Energy security

•Transport infrastructure

•Reserve fund of the Government

Control over energy security expenditures Control over energy security expenditures

• Energy Strategy of Ukraine

• optimization of energy consumption

• transition from natural gas to renewable energy resources

• state budget transfers to regions for implementation of measures for energy conservation and energy efficiency

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Control actions in energy sectorControl actions in energy sector

Implementation of the State program on Implementation of the State program on revision of the Energy Strategy of Ukrainerevision of the Energy Strategy of Ukraine

Implementation ofImplementation of the program on the program on development of main power linesdevelopment of main power lines

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• optimization of funding and work on terms

• ensuring completeness of electricity supply by Ukrainian nuclear power plants

• modernization of the electricity distribution system in regions of the country

Control measures of activities of the largest Control measures of activities of the largest public companies in Ukrainepublic companies in Ukraine

((under the Memorandum of Understanding between the European Union and under the Memorandum of Understanding between the European Union and Ukraine for Macro-Financial Assistance to Ukraine of up to EUR 1,8Ukraine for Macro-Financial Assistance to Ukraine of up to EUR 1,8 billionbillion))

Some audits of the largest Some audits of the largest public companiespublic companies::

•Administration of seaports of Ukraine

• UkrHydroEnergy

•Southwestern Railways

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New Law of Ukraine New Law of Ukraine “On the Accounting Chamber”“On the Accounting Chamber”

(adopted by the Parliament of Ukraine on July 2, 2015)(adopted by the Parliament of Ukraine on July 2, 2015)

Guarantees:Guarantees:

• transparency and transparency and publicity in activitiespublicity in activities

• independence independence ((including financial)including financial)

• objectivity of resultsobjectivity of results

• legitimacylegitimacy

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Thank you for attentionThank you for attention!!

Accounting Chamber of UkraineAccounting Chamber of Ukraine

Chair of the EUROSAI Working Group on the Audit of Funds Allocated to Disasters and Catastrophes