Audit in ARMA: Experts call for accountability from the Duma and reforms in the agency's operations.

The results of the Audit Chamber's review of ARMA's activities have confirmed systemic issues within the agency. Specifically, auditors found that 80% of the resolutions regarding asset transfers to ARMA remain unfulfilled, competitions for asset managers have dragged on for years, and the state may have lost millions during the ongoing full-scale war due to ineffective asset management. In light of these disheartening findings, experts emphasize that the agency's leadership should be held accountable for the failed processes, and the entire asset management system requires fundamental reform, reports UNN.

According to auditors, the main challenges facing the agency are as follows:

• the inadequacy of mechanisms for selecting managers and appraisers of confiscated assets;
• incomplete data about assets in the registry;
• unregulated relationships between ARMA and prosecutorial and pre-trial investigation bodies during the asset transfer-acceptance phase.

Experts highlight the need for changes in ARMA

Political expert Vitaliy Kulyk noted that the Audit Chamber's report should serve as a foundation not only for reforms but also for investigating the agency's activities.

"In my opinion, the report should definitely be a subject of investigation, a reboot of ARMA, not just concerning the name of the head, but primarily regarding the system itself - how decisions are made, how reporting is conducted, and how ARMA interacts with stakeholders," the expert commented to UNN.

Political scientist Serhiy Shabovta pointed out that ARMA fundamentally operates as an opaque asset management mechanism.

"The key issue is that ARMA was created and described in regulatory documents in a way that allows it to be a tool for corrupt practices, concealing real funds generated from various assets," the expert remarked in a comment to UNN.

The anti-corruption organization Transparency International also believes that the Audit Chamber's report confirms the necessity for reforming the agency.

"It is worth noting that the rather discouraging audit results for ARMA could provide a solid basis for the agency's reform, considering the requirements of the Ukraine Facility Plan," the organization stated.

The audit results concerning ARMA were discussed at the anti-corruption committee of the Verkhovna Rada. As noted by committee members, the discussion with agency representatives was candid, and the MPs pointed out problematic issues that require further development.

Therefore, it is clear that without accountability from the leadership and systemic changes, the situation in ARMA will remain unchanged, and assets will continue to lay idle, causing only losses to the state.