On the ratification of the Agreement on Auditing Activities within the Framework of the Eurasian Economic Union

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The Law of the Republic of Kazakhstan dated November 27, 2023 No. 41-VIII SAM

To ratify the Agreement on Auditing Activities within the Framework of the Eurasian Economic Union, signed in Moscow on April 19, 2022.

President of the Republic of Kazakhstan

K. TOKAEV

AGREEMENT on Auditing Activities within the Framework of the Eurasian Economic Union

The Member States of the Eurasian Economic Union, hereinafter referred to as the Member States,

guided by the Treaty on the Eurasian Economic Union of May 29, 2014, generally recognized principles and norms of international law,

Confirming the desire to create a single market for auditing services within the framework of the Eurasian Economic Union (hereinafter - the Union),

desiring to form unified approaches to the organization, regulation and control of auditing activities,

have agreed on the following:

Article 1 Definitions

1. For the purposes of this Agreement, concepts are used that mean the following::

"audited entity" means a person whose accounting (financial) statements and/or other information provided by them are being audited or to whom audit-related services are provided.;

"audit" is an audit of the accounting (financial) statements of an audited entity and (or) other financial information provided by them in order to express an independent opinion on their reliability.;

"auditor" is an individual who has been granted the right to participate in auditing activities in a Member State.;

"auditing activities", "auditing services" - activities related to conducting audits and performing other assurance audits, as well as providing audit-related services, carried out in accordance with auditing standards;

"audit organization" is a legal entity that is a commercial organization and has received the right to carry out auditing activities in a Member State.;

"auditor's report" is an official document drawn up by an audit organization or an individual auditor based on the results of an audit.;

An "opinion" is an official document drawn up by an audit organization or an individual auditor based on the results of performing assurance audits other than an audit.;

"individual auditor" is an auditor who has received the right to carry out auditing activities as an individual entrepreneur.;

"foreign audit organization" is an organization that has obtained the right to conduct auditing activities in a non-member State, and whose status has been confirmed by the competent authority of such a State.;

"report" is an official document prepared by an audit organization or an individual auditor when providing audit-related services.;

The "register of auditing organizations, individual auditors and auditors" is a systematic list of auditing organizations, individual auditors and auditors, which is maintained in a Member State by the body responsible for this in accordance with the procedure established by the legislation of the Member State.;

"audit-related services" means an audit of the accounting (financial) statements of the audited entity and other information provided by it, other than assurance audits, as well as other services recognized as audit-related in accordance with auditing standards.;

A "financial market participant" is a legal entity engaged in the provision of financial services.

2. Other concepts used in this Agreement are applied in the meanings defined by the Treaty on the Eurasian Economic Union of May 29, 2014.

Article 2 Subject of the Agreement

This Agreement regulates relations related to ensuring the admission of audit organizations and individual auditors of one Member State to audit activities in other Member States and the admission of auditors of one Member State to participate in auditing activities in other Member States, as well as defines common approaches to the implementation and regulation of auditing activities in the Member States.members.

Article 3 Admission to auditing activities

1. Auditing activities in a Member State are carried out by persons who have obtained the right to carry out auditing activities in that Member State.

Auditing organizations (with the exception of auditing organizations specified in paragraphs 2 and 4 of Article 32 of this Agreement) and individual auditors of one Member State have the right to carry out auditing activities in other Member States.

Auditing activities may be carried out by individual auditors, if this is provided for by the legislation of the Member State.

2. Auditors (with the exception of the persons specified in paragraph 3 of Article 32 of this Agreement) of one Member State have the right to participate in auditing activities in other Member States.

Article 4 Requirements for persons engaged in auditing activities

1. In order to obtain the right to carry out auditing activities in a Member State as an audit organization, a legal entity must meet the following requirements::

a) the number of auditors established by the legislation of the member State who are employees of this legal entity at their main place of work on the basis of employment contracts is at least 3;

b) the share of the authorized (pooled) capital of this legal entity owned by auditors and (or) audit organizations is at least 51 percent;

c) the number of auditors in the collegial executive body of a given legal entity is at least 50 percent of the composition of such a body. The person who is the sole executive body of this legal entity must be an auditor.;

d) impeccable business reputation, expressed in a positive assessment by participants in civil turnover, including professional associations (self-regulatory organizations) of auditors, business qualities, business behavior, activities of a legal entity, its bodies, owners, affiliated persons, subsidiaries and dependent organizations;

e) the existence of rules for the implementation of internal quality control of work.

2. A legal entity wishing to carry out auditing activities may not be established in the form of an open (public) joint-stock company or a state (municipal) unitary enterprise.

3. In order to obtain the right to carry out auditing activities in a Member State as an individual auditor, an individual registered as an individual entrepreneur in accordance with the legislation of a Member State must meet the following requirements:

a) compliance with the requirements provided for in paragraph 1 of Article 5 of this Agreement;

b) the existence of rules for the implementation of internal quality control of work.

4. A Member State may establish in its legislation requirements for auditing organizations that are legal entities of a given Member State and individual auditors registered as individual entrepreneurs in a given Member State that are additional to the requirements set out in paragraphs 1 and 3 of this Article.

Article 5 Requirements for persons involved in auditing activities

1. In order to obtain the right to participate in auditing activities in a Member State as an auditor, an individual must meet the following requirements::

a) higher education;

b) practical work experience related to auditing or accounting and preparation of accounting (financial) statements;

c) an impeccable business (professional) reputation, expressed in the absence of an outstanding or outstanding criminal record for serious and especially serious crimes and crimes in the field of economics, as well as in a positive assessment by participants in civil turnover, including professional associations (self-regulatory organizations) of auditors, the business and professional qualities of an individual, his business behavior;

d) availability of the auditor's qualification certificate (certificate).

2. An auditor participates in auditing activities as an employee of an audit organization or an individual auditor on the basis of an employment contract between him and, respectively, an audit organization or an individual auditor.

Article 6 The emergence and termination of the right to carry out auditing activities (participation in the implementation of auditing activities)

1. A person wishing to carry out auditing activities (participate in the implementation of auditing activities) has the right to carry out auditing activities as an audit organization, an individual auditor (participate in the implementation of auditing activities as an auditor) from the date of inclusion of information about him in the register of auditing organizations, individual auditors and auditors.

2. The right of a person to carry out auditing activities as an audit organization, an individual auditor (participation in auditing activities as an auditor) is subject to cancellation if the person ceases to comply with the requirements established by Articles 4 and 5 of this Agreement, as well as for other reasons and in accordance with the procedure established by the legislation of the Member State, and is terminated from the date of inclusion of information on the revocation of such a right in the register of auditing organizations, individual auditors and auditors.

Article 7 Qualification examination

1. The qualification exam is conducted in order to verify the professional qualifications of an individual who wishes to participate in auditing activities.

2. Passing the qualification exam must confirm the required level of theoretical knowledge in areas related to the conduct of auditing activities and the ability of an individual wishing to participate in auditing activities to use this knowledge in practical work.

3. The level of theoretical knowledge should be tested in the following areas::

a) auditing activities;

b) the legislation of the Member State on auditing;

c) the legislation of the Member State on accounting;

d) International financial reporting standards;

e) International auditing standards;

f) risk management, internal quality control of work;

g) management accounting;

h) professional ethics and independence of auditors;

i) accounting theory;

k) financial analysis;

k) financial accounting.

4. Verification of the level of theoretical knowledge should also be carried out in the following areas (to the extent that such areas are related to the implementation of auditing activities):

a) Information technology and computer systems;

b) mathematics, statistics;

c) the tax, civil, labor legislation of the Member State, as well as the legislation of the member State on insolvency (bankruptcy);

d) general economic theory, finance, microeconomics;

e) the basic principles of financial management of the organization.

5. Member State:

a) establishes the procedure for conducting the qualification exam, including the procedure for the applicant's participation in the qualification exam, as well as the procedure for determining the results of the qualification exam. At least part of the qualification examination must be conducted in writing or electronically (in the form of testing, etc.);

b) determines the body(s) that conducts the qualification examination. The bodies that carry out the qualification examination may be the state bodies of the member state, professional associations (self-regulatory organizations) of auditors, organizations specially created for these purposes.;

c) establishes the procedure for issuing the auditor's qualification certificate (certificate);

d) has the right to establish a list of higher education specialties for an individual applying for the right to participate in auditing activities as an auditor;

e) has the right to establish the procedure for exemption from the examination of knowledge in the fields specified in paragraphs 3 and 4 of this Article, for which there is an international certificate (certificate, certificate, diploma);

f) has the right to establish requirements for educational programs of higher education in which an individual applying for the right to participate in auditing activities as an auditor has been trained.

6. An auditor's qualification certificate (certificate, certificate) issued in one Member State is valid in other Member States and is indefinite or valid until the expiration date (if such period is established).

Article 8 Practical work experience

1. The practical work experience of an individual wishing to participate in auditing activities as an auditor provided for in subparagraph "b" of paragraph 1 of Article 5 of this Agreement should ensure the ability of such a person to use theoretical knowledge in areas related to auditing in practical work.

2. The minimum length of service related to auditing or accounting and preparation of accounting (financial) statements for individuals wishing to participate in auditing activities as an auditor is established by the legislation of a Member State and may not be less than 3 years.

At the same time, at least 1 year of the last 3 years of the specified work experience must be employed in an audit organization in positions related to auditing activities, without prejudice to the provisions of paragraph 3 of Article 32 of this Agreement.

Article 9 Training in professional development programs

1. Starting from the year following the year when he/she has the right to participate in auditing activities (performing auditing activities as an individual auditor), an auditor must undergo training in advanced training programs (hereinafter referred to as training).

2. The training of auditors should ensure the maintenance of the required level of their theoretical knowledge, professional skills and abilities.

3. The minimum duration of training for auditors is established by the legislation of a Member State and may not be less than 80 hours in 2 consecutive calendar years.

4. The Member State shall establish the frequency and procedure for the training of auditors.

Article 10 Register of audit organizations, individual auditors and auditors

1. Information about an audit organization, an individual auditor, and an auditor should be included in the register of audit organizations, individual auditors, and auditors.

2. Information about an audit organization, an individual auditor, and an auditor is considered to be included in the register of audit organizations, individual auditors, and auditors or excluded from it from the date of making the corresponding entry in the specified register.

3. An audit organization, an individual auditor, and an auditor must have an individual (main) registration number in the register of audit organizations, individual auditors, and auditors (hereinafter referred to as the individual registration number).

4. The register of audit organizations, individual auditors and auditors, in addition to the information provided for in Articles 11 and 12 of this Agreement, must also contain the following information:

a) the full name and address of the body responsible for maintaining the register of audit organizations, individual auditors and auditors;

b) the full name and address of the body responsible for external quality control of audit organizations, individual auditors and auditors;

c) the full name and address of the body authorized to apply measures of influence in relation to audit organizations, individual auditors and auditors.

5. The register of audit organizations, individual auditors and auditors is maintained in electronic form and should be available on the official website on the Internet information and telecommunications network (hereinafter referred to as the Internet) of the body maintaining the register of audit organizations, individual auditors and auditors.

6. The Member State shall ensure the openness and accessibility of information contained in the register of auditing organizations, individual auditors and auditors, with the exception of the auditor's personal data. The auditor's personal data included in the register of auditing organizations, individual auditors and auditors is provided to interested persons only on the grounds and in accordance with the procedure established by the legislation of the Member State.

7. An audit organization, an individual auditor, and an auditor are responsible for the accuracy of information about them included in the register of audit organizations, individual auditors, and auditors, as well as for the timeliness of notifying the body(s) maintaining the register of audit organizations, individual auditors, and auditors of changes in such information.

8. Information included in the register of audit organizations, individual auditors and auditors should be kept up to date.

Article 11 Information about the individual auditor and the auditor included in the register of auditing organizations, individual auditors and auditors

The register of audit organizations, individual auditors and auditors includes at least the following information about the individual auditor and the auditor:

last name, first name, patronymic (if any);

date of birth (date, month, year);

place of residence (registration);

individual registration number;

information on state registration as an individual entrepreneur (for an individual auditor);

information about the auditor's qualification certificate (certificate, certificate) (number of the auditor's qualification certificate (certificate, certificate), date of the decision to issue the auditor's qualification certificate (certificate, certificate), name of the body (organization) that issued the specified auditor's certificate);

contact phone number (for the individual auditor);

email address (if available);

the address of the official website on the Internet (if available);

information about an audit organization or an individual auditor whose employee is an auditor on the basis of an employment contract (indicating the name of the audit organization or the surname, first name, patronymic (if any) of the individual auditor, the location of the audit organization or the place of residence (registration) of the individual auditor, the address of the official website on the Internet (if any), the individual the registration number of the auditing organization or individual auditor);

information on registration as an auditor in other Member States and non-Member States (indicating the name of the registering authority and the auditor's individual registration number (if any));

information on the application of measures of influence for violation of the requirements of the legislation of the Member State on auditing (indicating the name of the body of the Member State that made the decision on the application of measures of influence, the date of adoption of the said decision, the number of the said decision (if any), the type of violation and information on the applied measures of influence);

information on the individual auditor's external quality control of the work (indicating the date of the quality control and the name of the authority of the Member State that conducted the audit);

information on the beginning (termination) of the auditor's activity as an individual entrepreneur (indicating the date and the state registration number of the entry on the beginning (termination) of such activity).

If the auditor, whose information is included in the register of auditing organizations, individual auditors and auditors, has the right to participate in auditing activities only in the Member State in which he is included in the register of auditing organizations, individual auditors and auditors, the register should contain an indication of this restriction.

Article 12 Information about an audit organization included in the register of audit organizations, individual auditors and auditors

The register of audit organizations, individual auditors and auditors includes at least the following information about the audit organization:

full name and abbreviated name (if available);

organizational and legal form;

location (address of the legal entity);

individual registration number;

information about state registration as a legal entity;

email address (if available);

the address of the official website on the Internet (if available);

location of all branches and representative offices (if any);

information about the owners (participants, shareholders) of the auditing organization (including surnames, first names, patronymics (if any), names and addresses);

information about the members of the collegial and (or) sole executive body of the auditing organization (including surnames, first names, patronymics (if any));

information about auditors who are employees of an audit organization on the basis of an employment contract (with the indication of surnames, first names, patronymics (if any), individual registration numbers, numbers of qualification certificates (certificates, certificates) of the auditor);

information on membership (other participation) in associations of auditing organizations that are members of the Forum of Firms of the International Federation of Accountants (international networks of auditing organizations) (indicating for each such international network the names and locations of all members of this network or the source of information (addresses of the official website on the Internet, etc.), from which such information can be obtained to be received);

information on registration as an audit organization (other similar entity) in other Member States and non-Member States (indicating the name of the registering authority and the individual registration number (if any));

information on the passage of external quality control of work (indicating the date of the quality control and the name of the authority of the Member State that conducted the inspection);

information on the termination of the audit organization's activities (indicating the name of the body of the Member State that made the decision to terminate the audit organization's activities and the date of such decision).

If an audit organization, information about which is included in the register of audit organizations, individual auditors and auditors, has the right to carry out audit activities only in the Member State in which it is included in the register of audit organizations, individual auditors and auditors, the register must contain an indication of this restriction.

Article 13 The language in which the register of auditing organizations, individual auditors and auditors is maintained

1. Russian Russian Register of auditing organizations, individual auditors and auditors is maintained in the official languages of the Member States and in Russian if Russian is not the official language of the Member State.

2. The Member State shall ensure the identity of the information included in the register of auditing organizations, individual auditors and auditors in the official language of the Member State and in Russian.

Article 14 The bodies of the Member States responsible for maintaining the register of auditing organizations, individual auditors and auditors

1. The Member State determines:

a) the body(s) responsible for maintaining the register of audit organizations, individual auditors and auditors. The bodies responsible for maintaining the register of auditing organizations, individual auditors and auditors may be government agencies of a member State, professional associations (self-regulatory organizations) of auditors, organizations specially created for these purposes.;

b) the procedure for maintaining the register of audit organizations, individual auditors and auditors by the body(s) responsible for maintaining the said register.

2. The Member State shall inform the other Member States and the Eurasian Economic Commission (hereinafter referred to as the Commission) about the body(s) responsible for maintaining the register of audit organizations, individual auditors and auditors.

3. The authorities of the Member States responsible for maintaining registers of auditing organizations, individual auditors and auditors shall inform each other and the Commission about the addresses of their official websites on the Internet, which contain registers of auditing organizations, individual auditors and auditors.

The Commission shall post on the official website of the Union a list of the addresses of the official websites on the Internet of the bodies of the Member States responsible for maintaining registers of auditing organizations, individual auditors and auditors on which these registers are located.

4. The procedure for interaction between the bodies of the Member States responsible for maintaining registers of auditing organizations, individual auditors and auditors is determined by an international agreement within the Union.

Article 15 Auditing standards

1. In the Member States, auditing activities are carried out in accordance with international auditing standards. For the purposes of this Agreement, international auditing standards are understood to mean the following documents adopted by the International Federation of Accountants:

a) International quality control standards;

b) International Standards on Auditing;

c) International audit practice reports;

d) International standards of review inspections;

e) International standards for assurance engagements;

(e) International standards for audit-related services;

g) other documents defined by the International Federation of Accountants as an integral part of international auditing standards;

h) documents providing for amendments to the documents specified in sub-paragraphs "a" - "g" of this paragraph.

2. International auditing standards are put into effect for application in the Member State in accordance with the procedure established by the legislation of the Member State.

3. In addition to international standards of auditing, other rules of auditing may be applied in a Member State (national standards (rules) of auditing, standards of auditing by Professional associations (self-regulatory organizations) of auditors, etc.). Other rules of auditing may be applied in a Member State if they establish requirements for:

a) carrying out auditing activities on issues not regulated by international auditing standards;

b) audit procedures that are additional to the requirements established by international standards on auditing, if this is due to the specifics of the audit or the specifics of the provision of audit-related services.;

c) audit procedures necessary to perform additional work during the audit or perform other assurance audits, the scope and nature (including additional questions posed to the audit organization, the individual auditor) of which are established by the legislation of the Member State, as well as to reflect the results of such work in the audit report, opinion (including the order of presentation, the composition of the reflected information, specific formulations).

d) International standards of review inspections;

e) International standards for assurance engagements;

(e) International standards for audit-related services;

g) other documents defined by the International Federation of Accountants as an integral part of international auditing standards;

h) documents providing for amendments to the documents specified in sub-paragraphs "a" - "g" of this paragraph.

2. International auditing standards are put into effect for application in the Member State in accordance with the procedure established by the legislation of the Member State.

a) carrying out auditing activities on issues not regulated by international auditing standards;

4. If other auditing rules are allowed to be applied in order to carry out auditing activities in a Member State, such rules should not:

a) contradict international auditing standards;

b) create obstacles to the implementation of auditing activities.

Article 16 Independence of audit organizations, individual auditors, auditors

1. The Member States apply the Code of Ethics for Professional Accountants (regarding auditing), adopted by the International Federation of Accountants (hereinafter referred to as the Code of Ethics for Professional Accountants).

2. Audit organizations, individual auditors, and auditors must comply with the requirements established in accordance with the Code of Ethics of Professional Accountants for the independence of audit organizations, individual auditors, and auditors from persons who receive audit services (persons who have entered into an audit services agreement) when providing audit services related to the expression by the audit organization or individual auditor of an opinion on the subject under study. information.

3. Audit organizations, individual auditors, and auditors are not entitled to carry out actions that lead to a conflict of interest or create a threat of such a conflict.

For the purposes of this Agreement, a conflict of interest is a situation in which the interest of an audit organization, an individual auditor, or an auditor may influence the opinion of such an audit organization or individual auditor on the accounting (financial) statements of the audited entity or on other information provided by it.

Article 17 Professional ethics of auditors

Auditing organizations, individual auditors, and auditors must comply with the requirements of professional ethics of auditors established by the Code of Ethics of Professional Accountants when carrying out auditing activities (participating in auditing activities).

Article 18 Audit secrecy

1. The persons referred to in paragraph 3 of this Article, as well as other persons defined by the legislation of the Member State, must comply with the requirements for ensuring the confidentiality of information constituting an audit secret in accordance with the legislation of the Member State.

2. Audit secrets are any information and documents obtained and/or compiled by audit organizations, individual auditors and their employees in the course of auditing activities and the provision of other audit-related services, with the exception of:

a) information disclosed by the person to whom the audit services were provided, or with his consent;

b) information about the conclusion of an audit services agreement;

c) information about the amount of audit remuneration.

3. An audit organization, an individual auditor and their employees may not transfer information and documents constituting an audit secret to third parties or disclose such information and the contents of such documents without the prior written consent of the person to whom the audit services were provided, except in cases established by the legislation of the Member State in whose territory the audit services are provided.

Article 19 Internal quality control of audit services

1. When providing audit services, the audit organization and the individual auditor must establish and comply with the rules of internal quality control.

2. The rules of internal quality control of the work of an audit organization and an individual auditor are established in accordance with auditing standards.

Article 20 Audit report, opinion, report

1. The auditor's report, the conclusion, the report are made when carrying out audit activity according to standards of auditing activity.

2. The auditor's report, report, and report prepared by a person authorized to carry out auditing activities in a Member State are recognized as official documents in other Member States.

Article 21 Organization of audit services

1. A Member State shall establish in its legislation the requirements according to which:

a) the audit organization and the individual auditor must be provided with the financial, material and labor resources necessary and sufficient to provide audit services.;

b) audit remuneration of an audit organization or an individual auditor for the audit services rendered by them:

It must be sufficient to provide the audit services provided for in the audit services agreement in accordance with auditing standards.;

It cannot be conditioned by the fulfillment by the audit organization or the individual auditor of any requirements for an independent opinion that will be formed as a result of the provision of audit services provided for in the audit services agreement, as well as the provision by the audit organization or the individual auditor of additional services to this person.;

it cannot depend on the occurrence of any event (fact) in the future.

2. An audit organization or an individual auditor must keep records of the persons to whom audit services are provided. In relation to each such person, the audit organization and the individual auditor should have the following information::

a) name, location (address of the legal entity and the address of the actual business);

b) surname, first name, patronymic (if any) of the person responsible for the provision of audit services;

c) the amount of audit remuneration and remuneration for any other services provided for in paragraph 2 of Article 23 of this Agreement received from such person;

d) any written claims submitted to an audit organization or an individual auditor in relation to the audit services provided by them.

3. An audit organization or an individual auditor must:

a) maintain working documentation for each audit services agreement in the scope and procedure established by auditing standards;

b) issue working documentation on the audit services agreement no later than 60 calendar days from the date of the audit report, opinion, report;

c) keep the working documentation for at least 5 years from the date of the audit report, opinion, report.

4. A Member State has the right to establish requirements in its legislation:

a) to maintain the working documentation of an audit organization, an individual auditor, additional to the requirements provided for in this article;

b) to the heads of audit organizations and (or) to the heads of audit service assignments.

Article 22 Mandatory audit

1. Mandatory audit is subject to:

a) annual accounting (financial) statements of a credit institution (bank), insurance organization, mutual insurance company, non-governmental pension fund, organization whose securities are admitted to organized trading;

b) annual accounting (financial) statements included in the securities prospectus.

2. Mandatory audits are conducted only by auditing organizations.

3. A Member State may, in addition to the requirements provided for in paragraph 1 of this article, establish in its legislation cases in which the accounting (financial) statements of an economic entity are subject to mandatory audit, as well as grant individual auditors the right to conduct mandatory audits in such cases.

4. An audit organization that conducts a mandatory audit annually discloses information about its activities on its official website on the Internet.

5. The information disclosed by the auditing organization in accordance with paragraph 4 of this Article should include at least the following information:

a) information about the organizational and legal form of the auditing organization and the distribution of shares of its authorized (pooled) capital among owners, participants (auditors, auditing organizations, other individuals and legal entities);

b) information about the network of audit organizations (name, location of headquarters, address of the official website on the Internet) (if the audit organization is part of a network of audit organizations, including an international network);

c) the date of completion of the last external audit of the audit organization's work and the name of the body (organization) that conducted this audit.

6. A Member State may, in addition to the information provided for in paragraph 5 of this article, establish in its legislation other information disclosed by an audit organization that conducts a mandatory audit.

Article 23 Restrictions on the activities of an audit organization, an individual auditor

1. An audit organization or an individual auditor may not engage in other business activities, with the exception of auditing activities and the provision of services provided for in paragraph 2 of this article.

2. An audit organization or an individual auditor may provide the following services related to auditing:

a) establishment of accounting records, restoration and maintenance of accounting records, preparation of accounting (financial) statements, accounting consulting;

b) tax consulting, tax accounting, restoration and maintenance of tax records, preparation of tax calculations and declarations;

c) management consulting related to financial and economic activities, including analysis of financial and economic activities of organizations and individuals registered as individual entrepreneurs in accordance with the legislation of the Member State;

d) implementation of information technologies and consulting on accounting automation issues;

e) evaluation activities;

f) development and analysis of investment projects, preparation of business plans;

g) conducting scientific research and experimental work in areas related to auditing;

h) training in areas related to auditing (accounting, economics, finance, etc.);

i) other services provided by the legislation of the Member State.

3. The services related to auditing activities provided for in paragraph 2 of this Article shall be provided in compliance with the requirements established by the legislation of the Member States, including those related to admission to the provision of such services.

4. An audit organization or an individual auditor may not provide services to the audited person and perform the work provided for in paragraph 2 of this Article in the following cases::

a) the provision of such services and (or) the performance of such work entails non-compliance with the requirements for the independence of the audit organization, the individual auditor, or pose a threat of non-compliance with such requirements, entail a conflict of interest, or pose a threat of such conflict;

b) an audit organization or an individual auditor cannot take the necessary measures to eliminate the threat of non-compliance with the requirements for the independence of the audit organization or individual auditor or reduce such a threat to a level at which the requirements for the independence and professional ethics of auditors established by the Code of Ethics of Professional Accountants will be met.

5. A Member State may establish in its legislation a list of actions that give rise to a conflict of interest or create a threat of such a conflict, in addition to the actions provided for in the Code of Ethics for Professional Accountants.

Article 24 Specifics of auditing activities in the financial sector

1. A Member State has the right to establish in its legislation additional requirements for auditing organizations that audit accounting (financial) statements and other information of financial market participants and organizations whose securities are admitted to organized trading, for auditors involved in carrying out such activities, as well as for audit procedures and the procedure for providing relevant authorized persons to the body of the member State of the auditor's report.

2. A Member State has the right to establish in its legislation additional requirements for auditing organizations that audit the accounting (financial) statements of the national (central) bank of a Member State, for auditors involved in carrying out such activities, as well as for the procedures for auditing the accounting (financial) statements of the national (central) bank and the procedure for providing the auditor's report.

Article 25 Organization of external quality control of audit organizations and individual auditors in the Member State

1. The Member State shall ensure the implementation of external quality control of the work of audit organizations and individual auditors.

2. The subject of external quality control of audit organizations and individual auditors is compliance by the audit organization and the individual auditor.:

a) the requirements of the legislation on auditing activities of the Member State in the register of auditing organizations, individual auditors and auditors of which the auditing organization, the individual auditor, and the Member State in which the auditing activities are carried out are registered;

b) auditing standards, requirements for the independence and professional ethics of auditors, including:

the presence and observance by the auditing organization, the individual auditor of the rules of internal quality control of work;

the sufficiency of resources allocated by the audit organization, the individual auditor for the performance of the contract for the provision of audit services;

the reasonableness of the amount of audit remuneration received by the audit organization, the individual auditor.

3. External quality control of work should include, among other things, verification:

a) the fulfillment by an audit organization or an individual auditor of a part of audit service contracts;

b) the quality of the work of auditors who are employees of an audit organization, an individual auditor.

4. Member State:

a) establishes the procedure for external quality control of audit organizations and individual auditors;

b) determines the body(s) that carries out external quality control of the work of audit organizations, individual auditors. The bodies that carry out external quality control of audit organizations and individual auditors may be government agencies of a member State, professional associations (self-regulatory organizations) of auditors, and other organizations.

5. The body of a member State that carries out external quality control of the work of an audit organization, an individual auditor, has the right to carry out external quality control of the work of audit organizations, individual auditors of other Member States engaged in auditing activities in this Member State.

6. The procedure for interaction between the bodies of the Member States that carry out external quality control of audit organizations and individual auditors, including the mechanism for their participation in external quality checks and consultations when deciding on the application of impact measures, is determined by an international agreement within the Union.

Article 26 Requirements for external quality control of audit organizations and individual auditors

1. When carrying out external quality control of audit organizations and individual auditors, the Member State ensures compliance with the following basic requirements::

a) the independence of the body that carries out external quality control of audit organizations, individual auditors, from audit organizations, individual auditors, in respect of which external quality control is carried out;

b) the accountability of the body that carries out external quality control of the work of audit organizations, individual auditors, to an independent body from the auditing profession, determined by the legislation of the member State;

c) the control of the body that carries out external quality control of the work of audit organizations, individual auditors, all audit organizations, individual auditors engaged in auditing activities in the Member State;

d) provision of the body that carries out external quality control of audit organizations and individual auditors with the necessary financial, material and labor resources;

e) the appropriate level of professional competence of persons performing external quality control of audit organizations, individual auditors;

f) transparency of the procedure for appointing persons to conduct external quality control of the work of an audit organization, an individual auditor, which ensures, among other things, the prevention of conflicts of interest between such persons and the audit organization, an individual auditor, in respect of whom external quality control is carried out.;

g) reporting by the body that carries out external quality control of the work of audit organizations, individual auditors, on the results of external quality control of the work of the audit organization, individual auditor;

h) openness of the overall results of external quality control of audit organizations and individual auditors;

i) mandatory elimination by an audit organization or an individual auditor of violations and deficiencies identified by the results of external quality control of their work, within the time period established by the body that carries out external quality control of the work of audit organizations or individual auditors.

2. An external quality check of the work should be assigned:

a) in relation to an audit organization - based on a risk-based approach, but at least once every 5 years;

b) in relation to an individual auditor - at least once every 7 years.

3. An external audit of the quality of work in relation to an audit organization or an individual auditor may be appointed on the basis of a written complaint received by the body that carries out external quality control of the work of the audit organization, the individual auditor.

4. The scope of external quality control of the audit organization or individual auditor should correspond to the scale and complexity of the activities of the audit organization or individual auditor, in respect of which external quality control of their work is carried out.

Article 27 Responsibility of audit organizations, individual auditors, auditors

An audit organization, an individual auditor, and an auditor are responsible for violating the requirements of the legislation of the Member States on auditing, auditing standards, and requirements for the independence and professional ethics of auditors in accordance with the legislation of the Member State in whose territory the violation was committed.

Article 28 Measures of influence in relation to an audit organization, an individual auditor, an auditor

1. A Member State shall ensure the application of impact measures by bodies authorized to apply such measures to an audit organization, an individual auditor, or an auditor who has violated the requirements of the Member State's legislation on auditing, auditing standards, and requirements for the independence and professional ethics of auditors (hereinafter referred to as impact measures).

2. The measures of influence are applied by the body authorized to apply measures of influence in relation to the auditing organization, the individual auditor, the auditor of the member state in which the violation was established, in accordance with the legislation of that state.

3. The Member State shall determine the measures of influence and the procedure for their application. Audit organizations and individual auditors of one Member State who carry out audit activities in the territory of another Member State are subject to all measures of influence provided for by the legislation of that other Member State.

4. The Member State shall ensure that, when determining the impact measures, at least the following circumstances are taken into account::

a) the nature (including consistency), premeditation and severity of the violation;

b) compliance of the measure of impact with the severity of the violation;

c) preventing unjustified restrictions on the rights and legitimate interests of audit organizations, individual auditors, auditors;

d) the onset (threat of occurrence) of negative consequences;

e) compensation for harm (damage) to users of accounting (financial) statements, users of services provided by an audit organization, an individual auditor, and other persons.

5. The Member State shall ensure the disclosure of information on the applied measures of influence.

Article 29 Regulation of auditing activities in the Member State

1. The Member State shall determine the body(s) authorized to carry out the functions of regulating auditing activities. The body(s) authorized to carry out the functions of regulating auditing activities may be a state body of a member State, an organization specially created for these purposes.

2. The body authorized to perform the functions of regulating auditing activities should be independent of audit organizations, individual auditors, auditors, professional associations (self-regulatory organizations) of auditors.

3. The functions of regulating auditing activities include:

a) development of state policy in the field of auditing;

b) the adoption of regulatory legal acts regulating auditing activities (if the legislation of the Member State establishes such a right for the body authorized to carry out the functions of regulating auditing activities), as well as the establishment of requirements for the independence and professional ethics of auditors;

c) analysis of the state of the auditing services market in the Member State;

d) interaction with the bodies of other Member States authorized to carry out the functions of regulating auditing activities;

e) other functions provided for by this Agreement and (or) the legislation of the Member State.

4. In order to carry out the functions of regulating auditing activities, a Member State should provide the body authorized to carry out the functions of regulating auditing activities with the right to request necessary information and documents from auditing organizations, individual auditors, auditors, professional associations (self-regulatory organizations) of auditors, and also oblige auditing organizations, individual auditors, auditors, professional associations (self-regulatory organizations) of auditors to provide the specified body with such information and documents.

Article 30 Participation of professional associations (self-regulatory organizations) of auditors in the regulation of auditing activities

1. The Member States shall promote the establishment of professional associations (self-regulatory organizations) of auditors and the implementation of their activities.

2. Member States shall provide conditions for the participation of professional associations (self-regulatory organizations) of auditors in the regulation of auditing activities, in particular, by providing the following opportunities:

a) participate in the development of state policy in the field of auditing;

b) participate in the development and discussion of draft regulatory legal acts in the field of auditing regulation;

c) participate in the analysis of the state of the auditing services market in the Member State;

d) to summarize the practice of applying the legislation of the Member State on auditing and auditing standards;

e) represent the interests of members of such associations in the public authorities of the Member State.

3. A Member State, subject to the requirement provided for in paragraph 2 of Article 29 of this Agreement, may grant to the body authorized to perform the functions of regulating auditing activities the right to delegate to professional associations (self-regulatory organizations) of auditors the performance of certain functions of regulating auditing activities.

If the body authorized to perform the functions of regulating auditing activities has delegated to professional associations (self-regulatory organizations) of auditors the performance of any function of regulating auditing activities, the specified body must:

be able to resume the function of regulating auditing activities at any time.;

to carry out systematic control over the performance of delegated functions by professional associations (self-regulatory organizations) of auditors.

Article 31 Interaction of bodies authorized to perform functions for regulating auditing activities

1. A Member State grants the bodies authorized to carry out the functions of regulating auditing activities the right to interact with the relevant authorities of other Member States.

2. If there are several bodies in a Member State authorized to perform the functions of regulating auditing activities, the Member State determines the authorized body responsible for interaction with the bodies of other Member States authorized to perform the functions of regulating auditing activities.

3. The Member State shall notify the other Member States and the Commission of the bodies authorized to carry out the functions of regulating auditing activities and the body responsible for interaction with the bodies of other Member States authorized to carry out the functions of regulating auditing activities.

4. The procedure for the interaction of bodies authorized to carry out the functions of regulating auditing activities is determined by an international agreement within the Union.

Article 32 Features of internal regulation of auditing activities

1. The Republic of Armenia has the right, in its legislation, to grant organizations providing accounting services the right to provide audit-related services in the Republic of Armenia.

2. A Member State may, in its legislation, grant foreign audit organizations the right to have a participation interest of more than 49 percent in the authorized (pooled) capital of audit organizations, information about which is included in the register of audit organizations, individual auditors and auditors of this Member State. These audit organizations are entitled to carry out audit activities only in the Member State in which they are included in the register of audit organizations, individual auditors and auditors.

3. The Republic of Kazakhstan, in accordance with its legislation, has the right not to apply the requirement provided for in the second paragraph of paragraph 2 of Article 8 of this Agreement to individuals wishing to participate in auditing activities as auditors. Persons whose information is included in the register of auditing organizations, individual auditors and auditors of the Republic of Kazakhstan, but who do not comply with this requirement, are eligible to participate in auditing activities only in the Republic of Kazakhstan.

4. The Republic of Armenia, the Republic of Kazakhstan and the Kyrgyz Republic have the right to establish in their legislation that in order to obtain the right to carry out auditing activities as an audit organization in the Republic of Armenia, the Republic of Kazakhstan and the Kyrgyz Republic, respectively, a legal entity of the Republic of Armenia, the Republic of Kazakhstan or the Kyrgyz Republic has the number of auditors who are its employees at their main place of work based on employment contracts, there may be less than 3 people. These audit organizations are entitled to carry out audit activities only in the Member State in which they are included in the register of audit organizations, individual auditors and auditors.

5. In the Republic of Kazakhstan, auditing organizations and individual auditors of the Member States, including auditing organizations and individual auditors of the Republic of Kazakhstan, are not entitled to provide assessment services.

Article 33 Transitional provisions

1. Persons who, as of the date of entry into force of this Agreement, are audit organizations, individual auditors, auditors, reserve the right to carry out auditing activities (participate in auditing activities) after the entry into force of this Agreement.

2. The results of the applicants passing the qualification exam, announced on the date of entry into force of this Agreement, are valid after the entry into force of this Agreement.

3. Documents and other information confirming the auditors' training prior to the effective date of this Agreement are valid after the effective date of this Agreement.

4. Until the date of entry into force of the international treaty provided for in paragraph 4 of Article 14, paragraph 6 of Article 25, paragraph 4 of Article 31 of this Agreement, the interaction of the bodies of the member States is carried out on the basis of the provisions of Article 68 of the Treaty on the Eurasian Economic Union of May 29, 2014.

Article 34 Dispute resolution

Disputes related to the interpretation and/or application of this Agreement are resolved in accordance with the procedure established by the Treaty on the Eurasian Economic Union of May 29, 2014.

Article 35 Final provisions

1. By mutual agreement of the Member States, amendments may be made to this Agreement, which are formalized in separate protocols and are an integral part of this Agreement.

2. This Agreement is an international agreement concluded within the framework of the Union and is included in the law of the Union.

3. This Agreement shall enter into force upon the expiration of 10 calendar days from the date of receipt by the depositary of the last written notification on the completion by the Member States of the internal procedures necessary for the entry into force of this Agreement, with the exception of Articles 3-9, 15-20, paragraphs 2-4 of Article 21, Articles 22 - 24, paragraph 5 of Article 25, paragraphs 2-4 of Article 26, Articles 27, 28 and 32 of this Agreement, which enter into force from the date of entry into force of the decision of the Supreme Eurasian Economic Council providing for the classification of audit services to the sectors (subsectors) of services in which the single market of services operates within the framework of the Eurasian Economic Union.

Done in Moscow on April 19, 2022, in one original copy in Russian.

The original copy of this Agreement shall be kept at the Eurasian Economic Commission, which, as the depositary of this Agreement, will send each member State a certified copy thereof.

For the Republic of Armenia

For the Republic of Belarus

For the Republic of Kazakhstan

For the Kyrgyz Republic

For the Russian Federation

I hereby certify that this text is a complete and authentic copy of the Agreement on Auditing Activities within the Framework of the Eurasian Economic Union, signed on April 19, 2022 in Moscow.:

for the Republic of Armenia - Prime Minister of the Republic of Armenia N. V. Pashinyan;

for the Republic of Belarus - President of the Republic of Belarus Alexander Lukashenko;

for the Republic of Kazakhstan - by the President of the Republic of Kazakhstan K. K. Tokayev;

for the Kyrgyz Republic - President of the Kyrgyz Republic S. N. Japarov;

for the Russian Federation - President of the Russian Federation Vladimir Putin.

The original copy is kept at the Eurasian Economic Commission.

Director

Legal Department

Of the Eurasian Economic Commission

V. I. Taraskin

President

Republic of Kazakhstan

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