Article 14. Qualification Commission The Law on Auditing

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1. The Qualification Commission consists of a representative of the authorized body and an equal number of representatives from professional organizations, while the composition of the Qualification Commission should consist of an odd number of its members. The Qualification Commission may also include non-practicing experts.

2. The Chairman of the Qualification Commission is an auditor with experience in the field of auditing.

The Chairman of the Qualification Commission is elected by a simple majority of votes of the members of the Qualification Commission for a term of three years. The same person may not be elected Chairman twice in a row.

3. A person who has been held accountable for committing a corruption offense cannot be elected Chairman of the Qualification Commission.

4. The Qualification Commission develops, approves and coordinates with the Management Board a program for the certification of candidates for auditors, which must comply with international financial reporting standards issued by the Foundation for International Financial Reporting Standards, auditing standards and the legislation of the Republic of Kazakhstan.

5. In case of violation of the procedure for certification of candidates for auditors, the authorized body has the right to appeal the decision of the Qualification Commission to the court.

The Law of the Republic of Kazakhstan dated November 20, 1998 No. 304.

 This Law regulates the relations that arise between government agencies, individuals and legal entities, auditors, audit organizations, professional audit organizations and the professional audit council in the process of auditing activities in the Republic of Kazakhstan.

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Republic of Kazakhstan

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