COMPLIANCE AUDIT UNDERWAY

 

In accordance with the 2026 Performance Plan of the State Audit Organization, approved by the Auditor General of Mongolia, the State Audit Office in Ulaanbaatar is conducting a compliance audit entitled “Overlap of Mandates and Effectiveness of Functions between State Organizations and Legal Entities Owned or Partially Owned by Local Governments.”

As part of the audit, a working group from the State Audit Office in Ulaanbaatar conducted an on site review at UBIM. The audit team reviewed the Company’s mandate, organizational structure and operational arrangements, as well as relevant documentation and information, and held working discussions with the responsible officials.

The audit examines whether there are overlaps in the mandates and functions of state organizations and legal entities owned or partially owned by local governments, assesses the effectiveness of their operations, and reviews compliance with applicable legislation, policies, and relevant administrative decisions. The audit is scheduled to run from August through 1 October 2026.

UBIM is fully cooperating with the audit process by providing the requested information and supporting documentation in accordance with applicable procedures and facilitating the work of the audit team.