OREANDA-NEWS. October 19, 2009. President Alexander Lukashenko signed the Decree On Improving the Auditing (Supervisory) Activities In the Republic of Belarus, reported the Official website president.gov.by.

This document establishes a uniform procedure for implementing the auditing and supervisory activities on the basis on fundamentally new approaches.

This decree is aimed at addressing the objectives that were formulated by the President of the Republic of Belarus. They are to slash considerably the number of audits, eliminate the doubling of the functions of the watchdog authorities, create a transparent system of audits that would not be burdensome for businesses, would not stifle business initiative in Belarus and that would allow for holding preventive audits rather than punitive ones.

The signing by the Head of State of this regulatory act is another fact indicating Belarusian authorities’ commitment to creating the most favoured treatment regime for bona fide economic operators. It also shows that the country’s authorities put trust in economic entities and stand ready to build partner relationships with businesses and individual entrepreneurs.