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Published Audit Report on Annual Financial Statement of the New Democratic Force (Forca) for 2014

Podgorica, 10th November 2015 - The State Audit Institution has conducted a financial audit of the Annual Financial Statements and a regularity audit of the New Democratic Force (Forca), which implies compliance with legal and other relevant regulations.

Based on the conducted audit, determined facts and the statement of the audited entity to the Preliminary Statement of the SAI, the competent Auditing Board comprised of a member of the Senate Nikola Kovačević, Head of the Auditing Board and a member of the Senate Branislav Radulović, PhD, a member of the Auditing Board, has given unqualified opinion with emphasis of a matter on financial audit and qualified opinion on regularity audit.

Financial Audit has found that the Annual Financial Statement of the New Democratic Force (Forca) for 2014 in all important material aspects was compiled and presented fairly and objectively in accordance with the applicable financial reporting framework, except for the issues specified under the item – Active prepayments and deferred expenses and item – Liabilities.

Regularity audit has found that the audited entity did not comply all the financial and other actions in all materially important aspects with the legal and other regulations that had been identified as criteria for the given audit. The noncompliance refers to the issues given in the Report under item – Financial resources, item – Receivables, item – Liabilities and item – Expenditures.

The Audit of Annual Financial Statement for 2013 found irregularities and the recommendations were given to the audited entity, which refer to establishing the effective internal control system, provision of records of liabilities from the local self-governments, payment of travel business expenses in line with the applicable regulation and reduction of cash payments. The audit of Annual Financial Statement for 2014 has found that the audited entity did not implement the recommendation related to provision of records of liabilities from the local self-governments and it did not prescribe in the Statute the obligation to adopt the Financial Plan, while the recommendation related to justification of travel business expenses and reduction of cash payment was partly implemented.

The Final Audit Report on Annual Financial Statement of the New Democratic Force (Forca) for 2014 has been officially published at the web site of the State audit institution.

Excerpt from the Audit Report on Annual Financial Statement of the New Democratic Power (FORCA) for 2014

Audit Report on Annual Financial Statement of the New Democratic Power (FORCA) for 2014 (mne)