State Duma backs extension of Russian Audit Chamber’s powers
MOSCOW, May 14 (RAPSI) – The State Duma passed in the third and final reading on Tuesday a bill authorizing Russian Audit Chamber to check subsidiaries of state companies and corporations and other companies receiving federal subsidies.
According to the draft law, the Audit Chamber will be entitled to audit economic partnerships and business entities partially owned by state corporations, government companies and public not-for-profit organizations.
The Chamber will be also authorized to check legal entities receiving federal subsidies for infrastructural facilities and investment projects.
Currently, subsidiaries of state companies and corporations may be inspected by the order of the president, government or both houses of Russian parliament.
The authors of the initiative, Vyacheslav Volodin, the State Duma Chairman, and his first deputy Alexander Zhukov, believe the new provisions to more accurately assess the efficiency of utilization of funds such organizations receive from the federal budget and at the expense of other federal resources.
The bill will help control the realization of national projects and state programs, according to the document’s authors.