ejebsEurasian Journal of Economic and Business StudiesНазвание журнала на русском2789-82532789-8261University of International Business named after K. Sagadiyev10.47703/2789-8253-2026-3-52-70ejebs-309Research ArticleСтатьиDeveloping an Asset Management Audit Framework and Effectiveness Index for Kazakhstan’s Quasi-Public Sectorhttps://orcid.org/0000-0002-3523-5489ArkenovaZ.

Zhadyra Arkenova – PhD, Associate Professor

Karaganda

arkenova1975@mail.ruhttps://orcid.org/0000-0001-9495-0530ZhanseitovA.

Azamat Zhanseitov – PhD Candidate

Astana

a.zhanseitov@apa.kzhttps://orcid.org/0000-0002-6953-2756MukhanovaG.

Gaini Mukhanova – Cand. Sc. (Econ.), Associate Professor

Astana

gaini.mukhanova@astanait.edu.kzhttps://orcid.org/0000-0001-5355-4590RaikhanovaG.

Gulnur Raikhanova – Cand. Sc. (Econ.), Associate Professor

Karaganda

raikhanova_gulnur@buketov.edu.kzhttps://orcid.org/0000-0002-7706-3195YussupovU.

Ulagat Yussupov – PhD, Associate Professor, Head of the Postgraduate Education Department

Astana

u.yusupov@kaztbu.edu.kzKaraganda University of KazpotrebsoyuzKazakhstanAcademy of Public Administration under the President of the Republic of KazakhstanKazakhstanAstana IT UniversityKazakhstanKaraganda National Research University named after Academician E. A. BuketovKazakhstanKazakh University of Technology and Business named after K. KulazhanovKazakhstan2026041020267035270Copyright © Arkenova Z., Zhanseitov A., Mukhanova G., Raikhanova G., Yussupov U., 20262026Arkenova Z., Zhanseitov A., Mukhanova G., Raikhanova G., Yussupov U.Arkenova Z., Zhanseitov A., Mukhanova G., Raikhanova G., Yussupov U.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://ejebs.uib.kz/jour/article/view/309

Effective asset management of quasi-public sector organizations is an important condition for improving economic efficiency, quality of corporate governance and sustainability of business processes. The purpose of this study is to develop a conceptual model of asset management audit adapted to the conditions of Kazakhstan and to propose an Asset Management Effectiveness Index (AMEI). The methodology includes a systematic review of the literature on the PRISMA protocol, a thematic analysis of selected studies, and an illustrative analysis of the activities of JSC NC KazMunayGas. Scientific publications for 2012-2020 and consolidated financial statements of KazMunayGas under IFRS for 2022-2023 were used as initial data. Based on the results of the thematic analysis, seven key areas were identified: independence of auditors, application of INTOSAI standards, asset management audit methodology, corporate governance and accountability, features of Kazakhstan’s quasi-public sector, audit quality control mechanisms, and financial benchmarking. On this basis, a five-stage audit and AMEI model is proposed, which includes five equally weighted components, evaluated on a scale from 0 to 10. KazMunayGas’s illustrative data shows that in 2022-2023, revenue decreased from $18,860 million to $18,236 million. The results show the practical significance of the proposed model for a comprehensive assessment of the asset management system; however, calculating and empirically validating AMEI require access to internal audit documentation and informed business decisions in quasi-public sector organizations.

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The authors declare that there are no conflicts of interest present.