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Commission Report (2002): Latvia
In accordance with the Action Plan some progress was made regarding the
development of the Public Internal Financial Control (PIFC) system, mainly in
terms of extending the scope of the internal audit system. However the
adoption of the new Internal Audit Law has been delayed. Further efforts are
needed to strengthen and implement the concepts of managerial accountability
and functional independence of the internal audit capabilities. The Internal
Audit Harmonisation and Methodology unit (IAHMU) in the Ministry of Finance
has been designated as the contact point in matters relating to PIFC. Good
progress was made in respect of alignment in the area of external audit,
where a new law was adopted aiming at ensuring the independence of the State
Audit Office (SAO) as well as its capacity as required by the Action Plan.
Some progress has been made regarding the designation of an anti-fraud
co-ordinating serviceand the strengthening of the fight against fraud.
Limited progress was made to ensure control over EC pre-accession funding. No
particular developments have taken place regarding the concept of audit
trails for EC funds. Overall, the Accession Partnership priorities in the
area of financial control have only been partially met. Implementation of the
measures under the Action Plan is largely on track.
© European Commission
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