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RAYKA ONTSOVA WAS APPOINTED AS HEAD OF THE NEWLY ESTABLISHED AUDIT OF EU FUNDS EXECUTIVE AGENCY
Today, 21.01.2009 Deputy Prime Minister Meglena Plugchieva met the new Executive Director of the Audit of EU Funds Executive Agency to the Minister of Finance Rayka Ontsova and the team of the Agency. Rayka Ontsova has long experience in the financial sector and audit. Before assuming the position in AEUFEA for 8 years she was chief auditor of the Bulgarian National Bank, she also worked for Economic Bank and Mineral bank. She is fluent in three languages.
The Audit of EU Funds Executive Agency (AEUFEA) has been set up by a Government Decree for reorganization of the Ministry of Finance directorate of the same name as from 1 January 2009. It is a legal entity, second level spending unit reporting to the Minister of Finance. The Agency's mission is to provide assurance that the management and control systems of EU funds are adequate and functioning effectively and that the financial interests of the European Community are protected. The Agency is the Audit Authority for the EU Structural and Cohesion Funds and other programmes and initiatives where audit of EU funds should be performed. It performs functions and tasks of a Certifying Authority under SAPARD, it is the authority responsible for the winding-up declarations under ISPA and also the Audit Authority for the bilateral cross-border cooperation programmes Bulgaria-Serbia, Bulgaria-Turkey, Bulgaria-Macedonia. The AEUFEA Executive Director is appointed by the Minister of Finance in consultation with the Prime Minister for a period of 5 years.
"The fate of EUR 12 billion is in your hands", said Deputy Prime Minister Meglena Plugchieva during the meeting with the AEUFEA team and added "You are the small Brussels in its control function in Bulgaria". She recommended the Agency's team to maintain good and constant contact with Brussels as they were our partners. During the meeting Executive Director Rayka Ontsova talked about the main tasks facing the Agency. "Our team is young, but what is important is to think alike", said Rayka Ontsova and added that the directorate of the Ministry of Finance had built the foundation, what was left was to build thereon. Competitive procedure for appointing auditors is ongoing, the aim being to recruit proven professionals. Hard work is ongoing to improve the audit strategies and the approval of the compliance assessments is pending.
An Audit Committee to the new Agency is also being set up. It will be a specialized, supervisory and advisory body independent of the Executive Director. It will comprise a chairman and two members with proven experience in finance and audit, who will be appointed by the Minister of Finance and reporting to him. The Committee Members will have unlimited access to the information and documentation available to the Agency. They will give recommendations on any divergence, deficiencies or inconformities in the Agency's work.
