Article 17. An agreement to conduct an audit, tax audit, audit of other information, related and other services in accordance with the auditing standards of the Law on Auditing

Home / RLA / Article 17. An agreement to conduct an audit, tax audit, audit of other information, related and other services in accordance with the auditing standards of the Law on Auditing

1. Relations between audit organizations and audited entities are based on a contract in accordance with the legislation of the Republic of Kazakhstan.

2. The contract for conducting an audit and (or) providing related and other services in accordance with auditing standards provides for: the subject of the contract, terms, amount and terms of payment, rights, duties and responsibilities of the parties, confidentiality of the information received, as well as membership in a professional organization.

3. The contract for conducting a mandatory audit, tax audit, audit of other information and (or) related and other services in accordance with the auditing standards of the audited entity must comply with the requirements established by the legislation of the Republic of Kazakhstan.

4. The information received by the auditor and (or) the auditing organization during the execution of an audit or tax audit agreement is a commercial secret, with the exception of information provided to state revenue authorities, as well as information disclosed (transferred) in accordance with the Law of the Republic of Kazakhstan "On the return of illegally Acquired Assets to the State" to the authorized body for the return assets.

Information obtained by the auditor and (or) the audit organization during the execution of an audit contract for other information constitutes a commercial secret, with the exception of information provided with the consent of the audit organization's clients to the authorized body for regulation, control and supervision of the financial market and financial organizations.

Violation of the obligation to preserve information containing a commercial secret entails liability established by the laws of the Republic of Kazakhstan.

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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