Toshko Todorov, who refused to be a prime minister, headed the Commission on Registered Auditors
With 112 votes in favor of GERB, « MRF – New Beginning », BSP and « there is such a people » Parliament elected the only candidate for chairman of The Commission for Public Supervision of the Registered Auditors – the former deputy chairman of the Court of Auditors Toshko Todorov. He was proposed for the GERB post in February after twice refusing to be a prime minister and thanks to that Dimitar Glavchev twice formed governments.
Todorov’s term of office is four years, and within one month after his election, a general meeting with the participation of the Minister of Finance, the manager of the Bulgarian National Bank, the chairman of the Financial Supervision Commission and the Management Board of the Certified Public Expert, the accountants, should be held. It should be agreed for a total of four candidates for members of the regulator, which are offered to its chairman. Three days later, he proposes to the National Assembly to choose them.
There is almost no debate on the election, with only two statements made – both from Kostadin Kostadinov, MPs. Daniel Petrov of Vazrajdane stated that the committee has a budget of about BGN 3 million a year, which he described as unnecessary expense. The MP described the body as « one of the parasitic institutions »
This institution can be restly closed instead of being a tick on the back of the state budget.
Daniel Prodanov. Renaissance MP
GERB nominated Toshko Todorov, who refused to be a prime minister, as chairman of the Commission on Registered Auditors
From the Academy of Economics in Svishtov to the Court of Auditors
During the office of Marin Raykov and the government of Plamen Oresharski Todorov, he was the chief expert and operative assistant of the Secretary General of the Ministry of Interior – first Kalin Georgiev, and then Svetlozar Lazarov.
| « Over the years, he has proven his expertise and professionalism. We are convinced that he will contribute to the further development and strengthening of the Commission for Public Supervision over the registered auditors, » wrote in your written motives From GERB. |
And Toshko Todorov refused to become a prime minister
What does the committee do
The Commission for Public Supervision of the Registered Auditors was established in 2008 with the amendments to the Independent Financial Audit Act. It states that the Commission is a collegial body that takes into account its activities to Parliament and consists of a chairman and four members. The Commission is responsible for the supervision over:
- The acquisition of capacity and registration of auditors, including auditors and audit enterprises from other states and member states of the European Union, as well as from third countries under certain conditions, and the deprivation of the capacity for the practice of audit activity
- Acceptance and compliance with professional ethics standards, internal quality control in audit enterprises when performing an audit
- Continuing training of auditors, the system of guaranteeing the quality of the audits, for investigation and imposition of penalties in law specified by law.
The focus of the regulator’s efforts is on the control of those companies where the public interest is highest – these are banks, insurers, pension funds, leasing houses traded on the stock exchange companies, companies from the Utility sector. It is a total of about 800 companies from over 10,000 with a compulsory audit. They are obliged to submit the auditor certified by the auditor, and since possible manipulations with their papers would have serious consequences for consumers, the quality of their audits is subjected to further inspection by the committee.
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