Experience of Kazakhstan in Implementation of International Standards in Auditing: Healthcare Sector

Abstract

The main objectives of the article are (i) to study the application of IFRS and ISA in the analysis of financial indicators and activities in healthcare organi-zations, (ii) to identify whether the application of IFRS and ISA in the analysis of financial indicators and activities in healthcare organizations lead to the increased transparency and efficiency of healthcare organizations, and (iii) to propose suggestions to improve the quality of the audit. The study reveals that there is a positive relation between audit processes and transparency of healthcare organizations. Moreover, the audit process and risk assessment in healthcare organizations have a positive impact on the efficiency of pro-vided services. However, analyzed audit reports of 8 healthcare organizations showed lack of credibility and transparency, which affected organizational processes as was seen during the COVID-19 pandemic. Authors suggest that the Ministry of Health together with the Ministry of Finance should harmonize approaches to the methodology of Patient Support Services, comply with internal expertise as well as external expertise with procedural audit standards.