Head Of Audit Chamber Speaks About Necessity Of Effective Control Of Regional Budget Expenditures

Chairman of the Audit Chamber Sergei Stepashin has set the heads of the control-audit bodies of Russia the task of creating effective control of the regional budget expenditures. Speaking on Monday at the second conference of the association of control-audit bodies of the Federation members, Stepashin called interbudget relations a "weak point". In Stepashin's opinion, many regions of Russia can develop without additional assistance but instead of this beat out transfers to cover their own economic mismanagement. In this connection the head of the Audit Chamber deems it necessary to set up bodies of independent outer financial control which must not simply carry out the external verification of accounting but, above all, assess the financial health of the operating economic entities.