Parliament may ease audit burden for political parties in Armenia
30.09.2014,
14:51
Armenia’s parliament passed on Tuesday, in the first reading, the bill about political parties.
YEREVAN, September 30. /ARKA/. Armenia’s parliament passed on Tuesday, in the first reading, the bill about political parties.
The amendments revise mandatory audit requirements for the political parties, said co-author of the bill Hayk Babukhanyan, head of the Union of Constitutional Right and member of the Republican Party of Armenia faction.
Under the current legislation, annual audits are compulsory if the party’s assets exceed the tenfold of the minimum wages in the country.
This creates certain difficulties for small parties as not the profits but the property is considered as assets, Babukhanyan said.
The new bill will help ensure a multiparty system, the lawmaker said.
In particular, the amendments bind parties to undergo a compulsory audit only if the party’s profit level has changed and the floating assets have exceeded the limits during the year, Babukhanyan said. –0--
The amendments revise mandatory audit requirements for the political parties, said co-author of the bill Hayk Babukhanyan, head of the Union of Constitutional Right and member of the Republican Party of Armenia faction.
Under the current legislation, annual audits are compulsory if the party’s assets exceed the tenfold of the minimum wages in the country.
This creates certain difficulties for small parties as not the profits but the property is considered as assets, Babukhanyan said.
The new bill will help ensure a multiparty system, the lawmaker said.
In particular, the amendments bind parties to undergo a compulsory audit only if the party’s profit level has changed and the floating assets have exceeded the limits during the year, Babukhanyan said. –0--
