Chief Audit Executive is
Mr. Stefan Belchev
Contact details:
102 “G. S. Rakovski” Str.
1040 Sofia, Bulgaria
telephone: (+359) 2/9859 5251
e-mail: s.belchev@minfin.bg
The Internal Audit Directorate was created in compliance with the new Public Sector Internal Audit Low, in force as of 4-th of April, 2006.
The main goal of the direction is implementing of internal audit function of all structures, programs, activities and processes in the ministry, including second budget spenders and EU budget spenders of Ministry of finance.
Internal Audit Directorate:
- Plans, conducts and reports internal audit activity in compliance with relevant legislation, the Internal audit Standards, Code of Ethics, Internal Audit Charter etc.
- Prepares 3-year strategic plan, based on a regular risk assessment and prepares annual audit plan.
- Prepares audit plan for every audit engagement, including scope, audit objectives, time and allocation of recourses, audit approach and techniques, etc.
- Renders independent opinion to the management about state of internal control function in MoF.
- Conducts an assessment of risk mitigation processes.
- Monitors and assesses compliance with legislation, internal rules and contracts; reliability of financial information, safeguarding of assets and information as well as effectiveness, efficiency and economy of operations.
- Consults top management of the ministry, gives recommendations, opinions, etc.
- Reports the audit observations and recommendations to the management of the ministry.