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Study visit of the State audit institution of the Republic of Serbia

Podgorica, 12th May 2015 – The representatives of the State audit institution of the Republic of Serbia have paid visit to the State audit institution of Montenegro. President of Senate, PhD Milan Dabovic and member of Senate, Nikola N. Kovacevic have welcomed delegation of the State audit institution of Serbia.

Taking into account multi annual experience of the audit staff of the SAI of Montenegro, as well as the fact that the SAI of Serbia is to perform audit of political parties this year, theme of two-day visit has been dedicated to trainings and exchange of practical knowledge and experience in performing audit of annual financial statement of political parties.

 

During this visit, the participants have discussed the process of auditing annual financial statement of political parties: preparatory audit phase and drafting of Detailed audit plan; performing audit with an emphasis on preparing audit minutes and reporting phase. With aim to get better insight into the process of auditing political parties, the audit team of the SAI of Montenegro has presented its experience by giving concrete examples its audit practice. At this workshop, the participants also discussed the challenges and issues which the SAI of Montenegro was faced at the beginning of auditing political parties.

 

The audit of annual financial statements of political parties in Republic of Serbia will be performed by a sector which is responsible for auditing the National bank of Serbia, public agencies and other users of public funds. On behalf of this sector, Ljubica Jankovic Andrijevic, supreme state auditor with the members of the audit team have participated at this visit.

 

On behalf of the SAI of Montenegro, the state auditors of Sector IV, which are, amongst other, responsible for annual audit of consolidated financial statement of political parties have participated and presented their experience in this field.