/KASE, July 10, 08/ - As was informed on July 3, 2008 round table on listing
companies auditing questions was organized in Business-centre Old Square
(Almaty).
Kazakhstan Stock Exchange (KASE) and Auditors Chamber of Kazakhstan
republic performed as event's organizers, sponsors - JPA International Audit
Garant LLP (Karaganda) and BDO Kazakhstanaudit LLP (Almaty).
Round table was organized with the aim to discuss acute questions of audit
quality, provided by Kazakhstan audit companies for listing purposes and
searching for possible ways out of problems, with witch professional
participants of exchange market confront while making documentations for
listing purposes.
Representatives of state bodies (Ministry of Finance of Kazakhstan republic,
Agency of Republic of Kazakhstan on Regulation and Supervision of
Financial Market and Financial Organizations, Agency on Regulation Activity
of Regional Financial Centre of Almaty), Auditor Chamber of Kazakhstan
republic, KASE, auditor organizations, professional participants of exchange
market were invited to this event.
During discussion within the frames of round table the range of acute for
audit companies questions were examined.
In particular, the director of audit activity development, accounting and
financial supervision department of Ministry of Finance of Republic of
Kazakhstan Zh. Aytzhanova informed that Ministry of Finance are engaged
in draft law "About including amendments and additions in the Law of
Kazakhstan republic "On audit activity". The main objective of draft law is
improving the system of audit services supervision.
Besides, problems of poor audit statements, received by KASE Listing
Department were brought for discussion and also problem with which KASE
and professional participants confront, while working with audit
organizations.
The question on possible risks of excluding audit organizations from the list
of audit organizations, which respond to qualified demands of Special Trade
Floor of Regional Financial Centre of Almaty, which came into effect since
June 2, 2008 was also discussed. Professional participants and
representatives of Audit Chamber of Kazakhstan republic came to one
decision to prolong coming of these demands into effect due to possible
problems of the company, which securities have already included in official
list of Special Trade Floor of Regional Financial Centre of Almaty (STF
RFCA) while excluding audit companies, which were auditing companies for
listing purposes, as not responding to demands, established by the
Resolution.
During round table many participants get answers from representatives of
state bodies, KASE audit organizations and Audit Chamber on situational
questions and practical advices on certain problems.
Press release on this theme is available at KASE website in "Seminars and
events" section at
http://www.kase.kz/mix/menu.asp
[2008-07-10]