Yerevan/Mediamax/. “Grant Thornton Amyot” welcomes the decision of the Armenian government on setting up a subdivision on controlling audit activity in the Ministry of Finance.

Commenting on the request of Mediamax on this decision, Shareholder Director of “Grant Thornton Amyot” Gagik Gyulbudaghyan reminded that “we constantly expressed concern in connection with the fact that the sphere of audit activity in Armenia really needs quality control”.

According to Gyulbudaghyan, the initiative of the government will serve its goal if factors, such as involvement of professional specialists, having the corresponding qualification, presence of a clear methodology and a work plan, are there.

Shareholder Director of “Grant Thornton Amyot” note that the new regulatory body should make sure by means of checks that companies, realizing audit activity, have an internal control system, which watches for the International Standard on Quality Control 1 to be preserved.

“We hope that this process will contribute to healing of the audit sphere”, Gagik Gyulbudaghyan stated.