Key provisions of INTOSAI GUID 5260 “Governance of Public Assetst” and recommendations for its implementation in Ukraine

Анотація

Introduction. INTOSAI Guidance 5260 “Governance of Public Assets” defines proper management of a country’s resources and the performance of state functions as competent and conducted in a manner that is appropriate, transparent, accountable, fair, and responsive to people’s needs, while fostering an environment that does not enable corruption or other unethical behavior. Its introduction into the audit practice of the Accounting Chamber of Ukraine is required under current legislation. Problem Statement. INTOSAI GUID 5260 “Governance of Public Assets” was designed by its developers as a framework upon which organizations operating in different countries may build their own standards, taking into account the specific requirements of their respective jurisdictions. It does not provide detailed methods, procedures, or practices for strengthening integrity, transparency, accountability, and the sound governance of public assets. The supreme audit institution (SAI) of each country, considering its mandate and national legal framework, bears responsibility for developing further specific policies on this matter. The purpose of the article is to highlight the key provisions of INTOSAI GUID 5260, to characterize current trends in the development of the public asset management system in Ukraine, and to identify pathways for implementing this standard with due regard to national legislation and in the context of fulfilling Ukraine Facility 2024–2027 Plan and the implementation of the State Ownership Policy. Methods. The study applies general scientific methods, including comparison, analysis, synthesis, and generalization. Results. Examination of INTOSAI GUID 5260 “Governance of Public Assets” during the scientific editing of its translation demonstrated that the document can be directly applied in audits conducted by the Accounting Chamber and can also serve as a foundation for developing its methodological materials. Conclusions. Limiting the application of INTOSAI GUID 5260 solely to the activities of the Accounting Chamber of Ukraine reduces its potential benefits. It can be used as a conceptual basis for reforming Ukraine’s public asset management system, as it identifies and specifies the areas, directions, and emphases of audits performed by the Accounting Chamber of Ukraine, illustrating the need for certain components of the public asset management system as well as principles and approaches for their proper organization.

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