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The meeting to evaluate the general results of the implementation of the Technical Assistance Project for the Court of Accounts of the Republic of Moldova (CoARM), financed by the European Union (EU), was organized by teleconference on June 28.
Marian Lupu, President of the CoARM mentioned during the event the importance of the positive results, recorded during the implementation of the project, with the support of European experts and the need to ensure a lasting progress, by ensuring the continuity of activities and cooperation within the subsequent stages of cooperation.
The European Union will continue to support the Court of Accounts in its institutional development efforts, with the country's supreme audit institution being one of the most important pillars in ensuring the sound management of public finances, said Boris Filipov, project manager at the EU Delegation. Mr Filipov also mentioned the successes of the CoARM in assimilating the external assistance provided and the progress made in carrying out the project activities.
During the meeting, EU experts - Peeter Latti and Kevin Suttie and the Members of the Court of Accounts - Petru Rotaru and Andrei Munteanu presented and discussed the results of the project implementation and future plans in the context of the new cooperation phase.
We mention that during 2018-2019, the CoARM received technical assistance from the EU, through which it provided strategic advice on institutional development, as well as support to improve the quality of financial and compliance audits. The project "Technical Assistance for the Court of Accounts of the Republic of Moldova in order to develop institutions and improve the audit process", implemented between November 1, 2019 - June 30, 2021, had as global objective to improve the performance of the Supreme Audit Institution of Moldova. This project focused on two specific objectives:
- advising the President and the Members of the Court of Accounts on institutional development, in line with INTOSAI and EU good practice, and on improving the CoARM's relations with the Parliament and other stakeholders;
- improving the capacity of CoARM’s staff to carry out financial and compliance audits according to the internationally recognized public audit standards.
According to the conclusions of the final report of the EU Technical Assistance Project, the most important achievements of the project are the following:
- The CoARM has developed and started the implementation of the new Development Strategy for 2021-2025. The strategy sets out relevant directions of activity for the coming years, in order to increase the impact of the CoA;
- The cooperation with the Parliament has been strengthened to a new level. The CoARM supported the Public Finance Control Committee (PFCC), created at the end of 2019. In a very short period of time, the cooperation procedures between the two entities were developed and implemented;
- The first international peer review evaluation of the CoARM was successfully organized;
- The CoARM has extensive resources that support a well-developed financial audit methodology and focuses similarly on the development of compliance audits;
- There is a growing adherence to the CoARM’s audit methodology of audit teams;
- The CoARM now has a more proactive methodology approach, improved relationships with audit teams and the extended quality control process, etc.
Following the evaluation of the progress made, the parties agreed on the issues that need support to consolidate the improvements, the next stage of support will be implemented by the end of this year, with a view to ensuring the continuity of support in the future.
