WITH DEFICIENCES OF VIEW
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The Court of Accounts of the Republic of Moldova (COaRM) has published the 2021 Annual Report, which contains the analysis and generalization of information regarding the formation, administration and use of financial resources and public patrimony in the 2021 financial year, and for some audits – and in other relevant periods, according to the Audit Activity Programs related to the annual audit cycle (September 2021 – September 2022).
The purpose of the Annual Report of the Court of Accounts of the Republic of Moldova (CoARM) is to present to the Parliament, the Government, the audited entities and the society the main systemic problems and findings formulated in the context of the external public audit activity.
The audit environment during the reference period was different from the previous annual audit cycle. The Court of Accounts faced major challenges regarding governance, policies, management and financial reporting, in particular, in the context of the Government's reform regarding the restructuring of the specialized central public administration, which was mainly carried out in the IV quarter of 2021. During this period, the impact of the energy and pandemic crisis was amplified, with decisions being made to re-distribute, re-prioritize the activities and resources of the entire public administration system, with the allocation of means and the payment of incentive and social payments.
Taken together, all these challenges had an impact on the audit environment in which the CoARM operated and led to an increase in the volume of the audit work in relation to the emergence of new transactions, increased significant audit risks and an increase in the number of mandatory audits, from 12 at 16. The CoARM was able to effectively and within the deadline set by the legislation to carry out the extended mandate of mandatory financial audits within the existing staff.
In order to facilitate the understanding of the audit findings and increase the impact of the work of the country's supreme audit institution, we have traditionally published a Summary of the Annual Report of the CoARM. The summary is a concise version of the Report, which presents, in a language accessible to the public, the main findings of the Court of Accounts.
