Court of Accounts of the Republic of Moldova

Court of Accounts Annual Meeting with the participation of President of Moldova Vladimir Voronin


   Court of Accounts: from control to audit – achievements and perspectives
Today, 25 December 2008, called traditionally in an annual meeting, the CoA staff examined the achievements and perspectives in the process of transformation from a supreme control body into a supreme audit institution. 

In accordance with the audit arrangements provided for by the new Law on CoA adopted by the Parliament on 5 December 2008, the CoA will annually submit to the Parliament a full report known as an audit opinion on the correctness, completeness, and regularity of state budget execution, as well as similar opinions on the budget of the state social insurance and funds of compulsory health insurance. This activity will be conducted in accordance with the International Standards of Auditing by well trained auditors certified in public auditing.

The CoA will have a new audit mandate in order to verify if Government programmes are implemented in accordance with the principles of economy, efficiency and effectiveness, known as performance audit. The results of the performance audits will be submitted to the Parliament together with practical recommendations for further improvement. The audited institutions are to implement these recommendations within a clearly estab   lished period of time.

Summarizing the results of the year and the successes in the process of fulfilling the strategic development objectives of the CoA as well as the priorities for 2008, CoA President Ala Popescu noted:

“Our future activity as an audit institution is planned so that it will allow us to contribute to the improvement of the social-economic situation by helping the Government to provide quality services to citizens. We must verify not only how well the financial resources are controlled, but also if this money are used in an economic, efficient and effective way for the provision of the services we all depend on.

If we are able to find ways to better use the national public budget, and I am convinced that we can do this, then we will manage to contribute to improving the public financial management. In my view, this is the main reason why the change is necessary and we are making so many efforts to see it achieved.”

In his speech, Vladimir Voronin, President of Moldova, has highly appreciated the activity of the CoA. The President said that over the past years not only the quality of the CoA activity improved, but also the prestige of this institution.

Vladimir Voronin noted the processes of transformation and internal reform of the CoA, which are oriented to the assimilation of the best practice in the area. In the context, the President also stressed the recent promulgation of the new Law on CoA, through which our country confirmed that it sticks to the international standards on public auditing.

Vladimir Voronin pointed out the responsibility of the CoA staff implied by the activity of the institution in accordance with the new requirements on auditing the formation, management and use of public financial resources and assets, calling them to further show high discipline, correctness, competency and honesty in carrying out their obligations.

The President of Moldova congratulated the audience with the winter holidays, whishing the CoA staff a lot of success in its further activity, health, happiness and welfare.

Assessing the results achieved in 2008, the meeting adopted a resolution that sets as a key objective for the CoA to enhance the impact by conducting the planned audits in accordance with the adopted standards, and formulating recommendations that would add value to the auditees and the society as a whole, using the public assets and money in a legal, economic, efficient and effective way.