Yerevan/Mediamax/. All Armenian enterprises with the proceeds of 1bln AMD and more were to undergo compulsory audit by July 1, 2010, following the results of 2009. According to the State Revenue Committee of Armenia, 361 companies secured proceeds of 1bln and more in 2009.

As a result of a preliminary analysis, carried out by the Ministry of Finance of Armenia, it turned out that from among 361 big organizations, subject to compulsory audit, 313 companies concluded the corresponding agreements, 30 of which are with private auditors.

Answering the question of Mediamax on results of compulsory audit, the press service of Armenian Ministry of Finance informed that the conclusions of auditors are positive or positive with reservation.

According to the list, placed at the website of the Ministry of Finance, companies, such as “Gor Petrol Service”, “Arsoil” and “Mikmetal” are among companies, which have avoided compulsory audit. Following the results of 2009, they were among 50 top taxpayers of Armenia.

“The Ministry of Finance takes measures to secure fulfillment of requirements of the law by entrepreneurs, who have not concluded agreements on compulsory audit”, Ministry of Finance informed, adding that information on enterprises, which have not undergone audit, is received as of July 1, 2010, and at present works are in process on specifying the exact number of such companies.

Commenting in an interview to Mediamax on efficiency of implementing compulsory audit, Shareholder Director of “Grant Thornton Amyot” Gagik Gyulbudaghyan stated that expectations, related to the mentioned legislative changes, were not justified. According to him, in “Grant Thornton Amyot” in particular, the number of customers for compulsory audit increased only by 10.

“Many have turned for realization of compulsory audit to companies and private auditors, which have received licenses only this year, and which, most likely, are founded especially for servicing those customers”, Gagik Gyulbudaghyan stated, adding that at present over 40 auditor organizations are registered in Armenia and 15 of them gained licenses in 2010.

He expressed an opinion that in order to increase efficiency of compulsory audit institute, the government should approve a “short list” of authoritative audit organizations, which will be entrusted work with big companies.