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December 8, 1994 is the starting point for the Court of Accounts of the Republic of Moldova (CoARM) on its way to a destination synonymous with the good management of public funds, the well-being and prosperity of the country's citizens.
Defined as the country's supreme audit institution, the Court of Accounts has endeavored to justify its confidence by adjusting its experience to international practices and standards certified by supreme audit institutions around the world.
In the last year of its activity, the CoARM has paid special attention to increasing the impact of the audit activity and generating benefit for the society, constantly submitting ideas, proposals and suggestions for the sound management and efficient use of public money. We care about the impact, to ensure that the results of our work contribute to improving the management of public funds and changing the lives of citizens.
In our reports, we make recommendations to support audited entities by improving and strengthening institutional management and eliminating deficiencies. The recommendations made are likely to contribute to addressing the weaknesses or problems identified by the audit, to optimizing resource management based on the principles of good governance. Thus, the impact of the implementation of the audit recommendations, in the period 2019-2020 generated the evaluation and accounting of the state buildings and lands in total value of over 200 million lei.
The summary of the impact of the implementation of the recommendations issued by the Court of Accounts on the activity of the audited entities reveals a series of positive aspects, which contribute to the increase of the quality of the economic-financial management of the state entities. It should be noted that the audit recommendations were taken into account by the Government in the process of developing its action plan, about 25% of the actions being based on our recommendations.
During the audits, we took steps to adjust the legal framework governing the activity of the audited entities and the public sector. We have successfully promoted a series of adjustments to the legal framework that were approved at the beginning of 2021 by Law no. 10 from 12.02.2021 for the amendment of some normative acts. The amendments will help increase the impact of external public audit by filling existing legislative gaps on auditors' measures and recommendations and, at the same time, eliminating regulatory deficiencies and inconsistencies in overcoming audit management issues, increasing the impact of audit reports, and simplification of the procedure for notifying the criminal investigation bodies. These changes will generate the establishment of functional mechanisms of managerial responsibility superior to the existing ones, for good governance, with real effects on the use of public financial resources and the administration of public patrimony.
In order to meet the expectations of the Parliament and other stakeholders, we tend to identify the most sensitive issues for society. To this end, this year we had an innovative approach, we identified some key issues that we addressed in the audits. Sensitive issues were the benchmarks for the 2020 Annual Report. Thus, we presented to the public our assessment on public procurement, the state of heritage inside and outside the Republic of Moldova, the pandemic crisis management, including a qualitative and quantitative analysis of the impact of the audit activity and the degree of compliance of audited entities with our recommendations.
The Court of Accounts' mission is to constantly assess the legality, regularity, compliance, economy, efficiency and effectiveness of the management of public financial resources and public assets. In addition, the extent to which the Court of Accounts honors its commitments is determined by the good observance and application of the principles underlying the activity - the independence of the institution, legality, objectivity, professionalism, accountability and transparency.
Along with the festive character of the Court of Accounts’ Day, we must admit that the same day is also a good opportunity to recite our work agenda for the coming period. All the more so as the activity of the Court of Accounts has been and remains to be the concrete response of the institution to the citizen's approach for a better life.
