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Published Audit Report on Annual Financial Statement of the Privatization and Capital Projects Council for 2012

Podgorica, 8th October 2013 - Based on Annual audit plan for 2013, the State audit institution of Montenegro has performed the Audit on Annual financial statement of the Privatization and Capital Projects Council for 2012.

The subject to audit is the annual financial statement of the Council for 2012 and compliance of financial operation with applicable legal regulations.

The objective of the audit is to express an opinion on accuracy and reliability of the Annual financial statement of the Privatization and Capital Projects Council for 2012 and compliance of financial operation of the audit entity with law and other regulations.

The State audit institution has performed a general audit (audit of accuracy and regularity) including overall insight into financial operations of the audit entity in 2012.

Based on performed audit, determined factual state and deliberation on audit entity’s opinion on the preliminary audit report, the competent Collegium has expressed a qualified opinion.

Due to the level of determined irregularities, the competent Collegium has given 11 recommendations.

The final Audit Report on Annual financial statement of the Privatization and Capital Projects Council for 2012 has been officially published at web site of the State audit institution of Montenegro.

Excerpt from the Audit Report on Annual Financial Statement of the Privatization and Capital Projects Council for 2012

Audit Report on Annual Financial Statement of the Privatization and Capital Projects Council for 2012. (mne)