During a meeting with "The Institute of Internal Auditors-Armenia" NGO members, the Minister of Finance Vardan Aramyan said that there is a need for reform of the internal audit system which is the link for organization to be competitive. The internal audit should not only identify potential risks, but also should play the role of consulting institute.
"The Institute of Internal Audit is a tool which will assist in the management of public finance at micro and macro levels, maintaining the 3 main principles of activities of the Ministry of Finance: economy , efficiency, effectiveness», - the Minister Aramyan said.
During the discussion it was noted that 3 kinds of the audit is carried out in Armenia in (financial, performative and compliance) which are in need of deep reforms, and there is a need to choose the right model for enhancing the role of internal audit in the development of these areas.
During the meeting it was stressed that all departments need to develop the internal audit system to confront the current challenges of business processes and automatе systems.
It is stressed that the field of audit needs an improvement.

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