Development of the audit of the consolidated financial statements of the republican budget

А. Aliyeva, E. Nikiforova, B. Abzhalova

2024

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DOI 10.32523/2789-4320-2024-1-294-308
Data confidence 70 medium
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Abstract

This article discusses the issues of transition and preparation of consolidated financial statements on the execution of the republican budget in accordance with international financial reporting standards for the public sector in the Republic of Kazakhstan, as well as their impact on the results of the audit of consolidated financial statements on the execution of the republican budget. The significance of the transition to international financial reporting standards for the public sector is given. The ways of adopting international financial reporting standards for the public sector are considered, and how this should happen. The main problems of the adoption of international financial reporting standards for the public sector were identified, and the main points of solving these issues were considered. It is concluded that international financial reporting standards for the public sector are of great importance for the results of the audit of consolidated financial statements on the execution of the republican budget both for the country and for society.