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Audit Chamber set up in Belarus

MINSK, 6 November (BelTA) – The Audit Chamber has been set up in Belarus, BelTA learned from the Finance Ministry.

“A constituent meeting has been held today. It was attended by representatives of audit firms and individual entrepreneurs who work as auditors. The meeting paved the way for the first self-regulating organization in our country  - Audit Chamber of the Republic of Belarus,” the ministry informed.

They noted that the establishment of the Audit Chamber is a serious step forward for the entire auditing community; it is a new milestone in the development of audit in Belarus.

A reminder, the establishment of the Audit Chamber was formalized by the amendments to the law on auditing activities passed by the House of Representatives in December 2018. The Audit Chamber is designed to be a single self-governing body for audit firms and individual entrepreneurs acting as auditors. The Audit Chamber will shield the audit market from mala fide auditors, perform supervisory functions and assess the quality of auditors’ work.

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