Foreign experience in conducting audit of budget investment efficiency

Abstract

The public sector accounts for a significant share of economic activity not only in developing countries, but also in developed ones, and the level of public investment is historically high. Public investment is recognized as a catalyst for economic recovery and renewal.

Most investments are organized in the form of projects, which are a temporary attempt to achieve specific goals based on final indicators and limited to a finite time scale and budget. The benefits of projects should be considered with a broader social perspective, which calls for social assessment and includes the interests of all citizens.

The definition of the topic is due to several factors. One of them is related to the desire to advance the development of budget investment efficiency auditing to a new level in order to clearly define its goals and objectives, guarantee accountability and increase the manageability of budget investments.

The purpose of the study is to develop recommendations and the possibility of adapting foreign experience in conducting budget investment efficiency auditing to the realities of Kazakhstan.

Research methodology – the work uses statistical, monographic, abstract-logical and other research methods

Research results – conclusions were drawn regarding the improvement of domestic practice of auditing the effectiveness of budget investments, taking into account world experience.