SAI Belarus Launches System Using Risk-Based Approach

The Supreme Audit Institution (SAI) of Belarus introduced a new selective inspections system at the beginning of the year. These audits, coordinated by the SAI and carried out by monitoring and oversight bodies per national law, are based on risk assessment criteria established (and ranked) by evaluating legal violation probabilities.

This risk-oriented approach, developed and employed by each control and oversight body, ensures transparency, objectivity and validity and provides a mechanism to prioritize audit work. The approach also provides flexibility, as the SAI has defined standards that allow risk assessments and ranking to be modified should certain benchmarks occur. For example, a risk assessment score can be lowered if an absence of violations is found during an audit.

The monitoring and oversight bodies will determine which business entities to audit using this newly implemented methodology every six months. The audits are summarized in the “Selective Inspections Plan” posted on the SAI Belarus’ website http://www.kgk.gov.by/ru.