Institute for Financial and Economic Monitoring
Ru / En

Special Audit of the Subsidy Management System of the Russian Coal Sector. Special Audit of Internal Control Systems of State Support Recipients in the Coal Sector

Title Special Audit of the Subsidy Management System of the Russian Coal Sector. Special Audit of Internal Control Systems of State Support Recipients in the Coal Sector
Client Foundation for the Restructuring of the Coal Industry (Reformugol)
Participants International organizations:
  • International Bank for Reconstruction and Development
Federal state bodies:
  • Ministry of Finance of the Russian Federation
  • Ministry of Fuel and Energy of the Russian Federation
  • Federal Treasury and its territorial bodies
  • Social Insurance Fund of the Russian Federation and its territorial bodies
Subjects of the Russian Federation (administrations of the coal-mining regions, cities and settlements, coal companies and mines):
  • the Komi Republic
  • the Kemerovo Region
  • the Rostov Region
Brief description The main objective of the project was to audit the mechanism of management of the government funds provided to restructure the coal sector on both federal and regional levels.

 The objective of the special audit was to improve the efficiency and transparency of the mechanism of state financing of coal restructuring at federal and regional levels in order to promote restructuring in the coal sector.

 A professional opinion on the implementation of the Government's Coal Industry Restructuring Program and other normative acts, concerning the transfer of funds from the Government to recipients and their special application was provided.
Results Audit of the recipients of the State support funds and organizations, participating in the management of the State support funds, including the following:
  1. Review of the approval process of all regulatory documents stipulated by the Government program and also verification that information, contained in these documents, is brought to attention of the recipients of the funds.
  2. Verify that the requirements, stipulated in regulatory documents, are observed. These documents regulate allocation and transfer of the State support funds to corresponding authorities and their purposeful use by the recipients.
  3. Assessment of the efficiency of the accounting and reporting systems and internal control mechanisms in order to obtain reliable information about management of the State support funds, time and amount of transfers (who, where, how much) as well as information on whether the funds were purposefully used. 
  4. Identification and collection of other information to assess the efficiency of management of the funds, allocated to support the coal industry.

Back to the list