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Published Audit Report on Annual Financial Statement of the Maritime Safety Department (MSD) Bar for 2012

Podgorica, 11th September 2013 - Based on Annual audit plan for 2013, the State audit institution of Montenegro has performed an audit of Annual Financial Statement of the Maritime Safety Department (MSD) Bar for 2012.

The subject to audit is Annual financial statement of the Maritime Safety Department Bar for 2012 and compliance of financial operation with applicable legal and other regulations.

The objective of the audit is to express an opinion on reliability and accuracy of the Annual financial statement of the Maritime Safety Department Bar for 2012 and compliance of business operation of the audit entity with the laws and regulations, as well as assessment of the internal system of financial management and control.

The State audit institution has performed a financial audit and regularity audit of business operation of the Maritime Safety Department Bar for 2012.

Based on performed audit, determined factual state and deliberation on audit entity's opinion on the preliminary audit report, the competent Collegium of the Institution has given unqualified opinion (positive opinion) on the Annual financial statement of the Maritime Safety Department Bar for 2012.

Due to the level of determined irregularities, the competent Collegium has given 9 recommendations.

The final Audit Report on Annual financial statement of the Maritime Safety Department Bar for 2012 has been officially published at web site of the State audit institution of Montenegro.

Excerpt from the Audit Report on Annual Financial Statements of Maritime Safety Department of Bar for 2012

Audit Report on Annual Financial Statements of Maritime Safety Department of Bar for 2012 (mne)