ASTANA.  March 12. KAZINFORM  /Meiram Baigarin/ Today when our country enters a new, industrial-innovative stage of development it is quite important to provide effective control over budget expenditures. Delivering a speech at the Parliament's session in September 2007 President Nursultan Nazarbayev pointed out the necessity of strengthening the system of state financial control including the Accounts Committee's activity.

Under the Presidential instruction there were developed the bills On Accounts Committee for Control over Execution of the Republican Budget and On amendments to some legislative acts regarding the Accounts Committee for Control over Execution of the Republican Budget  which were submitted for the Parliament's consideration then.

Presenting the draft law Chairman of the Accounts Committee Omarkhan Oxikbayev said: "First of all, the document envisages realization of constitutional provisions on collegial status of the Accounts Committee.

Secondly, the law consolidates on legislative level qualification requirements to the members of the Accounts Committee which will help strengthen budgetary discipline and institutional development of state financial control.

Thirdly, this is legal regimentation of the procedures of planning, passing and adopting a decision by the results of the audit.

Fourthly, the draft law provides for creation of a legal framework for analytical activity of the Accounts Committee. The Accounts Committee is authorized to conduct analysis of execution of the national budget, the results of control over fullness and timeliness of tax returns and other obligatory payments in budget, proper and efficient use of budgetary funds and state assets.

And the last point is that the law reflects the forms of accounting, the volume and character of the information provided by the Accounts Committee".

The Chairman of the Accounts Committee also noted that the bill contains provisions on performance of audit regarding the Accounts Committee itself under the President's instruction. This fully meets the principles of the Lima Declaration of Guidelines on Auditing Precepts adopted at the IX Congress of the International Organization of Supreme Audit Institutions in Lima (Peru) in 1977.