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National Audit Office bill, adopted at first reading, restores the collective professional management of 3 members – president and 2 vice-presidents

The new National Audit Office bill adopted at first reading by the National Assembly foresees restoration of the 3-member collective management of the latter. The bill was introduced by Menda Stoyanova, MP from PP GERB PG.

The 3-member management board existed until 2014 when the 42nd National Assembly has adopted a completely new law about the National Audit Office of Bulgaria, introducing a management body consisting of 9 members. The bill adopted at first reading envisages election of the Audit Office head and his 2 deputies by the parliament following an open public procedure. The vice-presidents will be in charge of particular branches, determined by the President of the NAOB. The office will consist of directorates with expertise in particular fields of audit inspection. The current bill restores the right of the Audit Office to impose administrative penalties for violations of the Public Procurement Act.

The bill returns the rule to not exercise financial audits in small municipalities with budgets under BGN 10 M as it is considered to be big waist of auditors’ time. The Audit Office is to exercise a topical control over the periodic financial statements.

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