Methodological review of the performance audit of the state investment policy in the context of the development of the "green economy" of Kazakhstan

Abstract

Тhe purpose of this article is a regulatory analysis and methodological review of the performance audit of the state investment policy in the context of the formation of the "green economy" of the Republic of Kazakhstan. Given the increasing global environmental challenges and the country's commitment to sustainable development, ensuring transparency, effectiveness and sustainability of public investments is becoming particularly relevant. The paper focuses on the need to transform approaches to performance audit, taking into account the principles of the green economy and environmental sustainability.

The research is based on an interdisciplinary approach, including a regulatory analysis of the current legislation of the Republic of Kazakhstan, an analysis of strategic and program documents, as well as a comparison of national and international standards on performance auditing. Comparative legal and terminological analysis, content analysis, case analysis and author's conceptual modeling are applied to include the principles of sustainable development and environmental priorities in the audit of investment policy.

The study revealed inconsistencies in the regulatory legal acts of the Republic of Kazakhstan, which may lead to the risk of violating the independence of the supreme audit institution, as well as discrepancies in the field of performance audit. The absence of direct provisions in the Law of the Republic of Kazakhstan "On State Audit and Financial Control" regulating the performance audit of government policies and discrepancies in terminology between national and international documents were found. A conceptual model is proposed that expands performance auditing to include an assessment of long-term social and environmental effects, as well as the potential for transformation to create social value. The importance of adapting methodological approaches to the performance audit of investment policy, including environmental and social criteria, is emphasized. The research results can be used to improve audit methodologies, develop new assessment indicators, and form regulatory initiatives in the field of sustainable development. The authors concluded that the proposed approach will transform performance auditing from a classic cost-benefit approach into a strategic management tool focused on achieving long-term goals and ensuring sustainable development.