The activities of the Accounts Chamber may not be suspended, in particular, due to an early termination of powers of the chambers of the Federal Assembly of the Russian Federation.
In attaining its goals the Accounts Chamber enjoys organizational, functional and also financial independence and carries out its activities independently.
The Accounts Chamber has the following objectives:
- to organize and exercise control over intended and effective use of federal budget and federal extra-budgetary funds;
- to audit the feasibility and effectiveness of achieving strategic goals of socio-economic development of the Russian Federation;
- to determine efficiency of the procedure of formation, management and disposal of federal and other resources and its compliance with regulatory legal acts of the Russian Federation, within the competence of the Accounts Chamber, including for the purposes of strategic planning of socio-economic development of the Russian Federation;
- to analyze the revealed discrepancies and violations in the process of formation, management and disbursement of federal and other resources within the competence of the Accounts Chamber, to work out proposals regarding their correction and also overall improvement of the budget process within the competence;
- to assess the efficiency of granting tax and other benefits and advantages, budget loans at the expense of the federal budget, as well as to assess the lawfulness of granting government guarantees and sureties or otherwise ensuring the performance of commitments for transactions made by legal entities and individual entrepreneurs at the expense of federal and other resources, within the competence of the Accounts Chamber;
- to determine the reliability of budget reporting of main administrators of the federal budget and federal extra-budgetary funds of the Russian Federation and the annual report on the execution of the federal budget and the budgets of federal extra-budgetary funds of the Russian Federation;
- to exercise control over legality and timely flow of funds of the federal budget and federal extra-budgetary funds in the Central Bank of the Russian Federation, banks authorized by it and in other credit institutions of the Russian Federation;
- to provide, within the limits of its competence, for anti-corruption measures.