Employees of the Supreme Audit Chamber (SAC) have identified violations in the use of borrowed funds by certain entities in the quasi-public sector in the Mangystau and Turkestan regions.
“Instances have been identified where results were not achieved during the construction and modernisation of infrastructure facilities and housing, for which borrowed funds were used. In some cases, the loans obtained were placed in deposits to generate additional income in the form of interest on the deposit, which diverted funds from the stated purposes”, the statement reads.
Based on the results of inspections in these regions, experts noted insufficient control over the use of borrowed funds, as well as the timeliness of repaying credit obligations.
In the Mangystau region, auditors identified financial violations totalling 5.5 billion tenge, ineffective planning and use of an external loan amounting to 869 million tenge, and ineffective use of a budget loan totalling 6.7 billion tenge. Two officials were brought to administrative responsibility with a fine imposed of 3.3 million tenge.
In the Turkestan region, auditors identified financial violations totalling 10.5 million tenge, and ineffective use of budget funds and assets amounting to 4.8 billion tenge.
It is worth recalling that in July, the audit commission conducted a state audit of the effectiveness of funds allocated for the development of engineering and communication infrastructure on the outskirts of Astana. The list included relevant budget programmes totalling 21.4 billion tenge. Following the inspection, experts identified financial violations of 1.4 billion tenge, non-disbursement of the budget amounting to 3 billion tenge, and ineffective use of 5 billion tenge.
In August, the SAC completed an audit of pricing in the construction sector, which revealed that the total volume of construction work in Kazakhstan last year reached 7.6 trillion tenge, an increase of 21% compared to 2022.
At that time, auditors in this sector identified financial violations totalling 1.3 billion tenge, ineffective planning and use of budget funds exceeding 14.2 billion tenge, as well as economic losses and lost profits amounting to 530 million tenge.
In mid-October, the Chairman of the Committee of Internal State Audit (CISA) Yerzhan Myngzhasarov stated that since the beginning of the year in the Almaty region, the department's employees had conducted 465 electronic audits totalling 170.2 billion tenge and implemented 758 measures aimed at preventing corruption.