Prosecutor's supervision of venture funds: no higher than a boot!

Prosecutors were reminded that they have no right to assess the effectiveness of spending budget funds on venture projects
UNOVA    

The Prosecutor General's Office of Russia has summarized the practice of prosecutorial supervision over the implementation of budget legislation, including in terms of spending budget funds on innovation and venture activities.

The analysis of the state of supervision over the implementation of budget legislation conducted by the Prosecutor General's Office of the Russian Federation indicates the need for prosecutors to strictly comply with their competence in the implementation of this supervision in terms of spending funds allocated for the implementation of innovative and venture projects, Prime-TASS reports.

According to the Federal Law "On the Prosecutor's Office of the Russian Federation", the prosecutor's office oversees the implementation of laws, does not replace other state bodies, does not interfere in the financial and economic activities of organizations. Prosecutors do not have the right to assess the effectiveness of spending budget funds allocated for the implementation of innovative and venture projects. The issues of efficiency of budget spending are within the competence of the Accounts Chamber of the Russian Federation and other control and accounting bodies.

In this regard, the prosecutors were asked to take measures to counteract embezzlement and abuse in this area, comply with the legislation on public procurement, identify facts of misuse of budget funds, protect the rights of the state to intellectual property objects obtained at the expense of budget funds when supervising the implementation of budget legislation in the field of innovation and venture activities.

The Prosecutor General's Office of the Russian Federation has sent a corresponding instruction to all subordinate prosecutors.

Portal "Eternal youth" http://vechnayamolodost.ru21.02.2011