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Published Audit Report on Annual Financial Statement of Positive Montenegro for 2015

Podgorica, 3rd October 2016 – The State audit institution has performed financial and regularity audit of Annual Financial Statement of Positive Montenegro for 2015.

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 president of the Senate, Milan Dabović, PhD, a member of the Auditing Board, has given unqualified audit opinion on Annual Financial Statement for 2015 and qualified audit opinion with emphasis of matter on regularity audit.

Financial Audit has found that the Annual Financial Statement of the Positive Montenegro in 2015 in all important material respects had been prepared and presented fairly and objectively in accordance with the applicable financial reporting framework.

Regularity Audit has found that the audited entity had harmonized financial and other activities with legislative and other regulations which had been identified as the criteria for the respective audit. Apart from unqualified audit opinion on regularity audit, the competent Auditing Board has emphasized the following:

- For the systematized working posts, the Party should conclude the employment contracts instead of service contracts and service contracts should precisely defined the obligations and responsibilities of the hired employee.

- Recording of all expenditures should be done on appropriate account according to the Rulebook and the same type of the expenditure should be recorded on one account;

- The Party should determine one of the methods for calculation of depreciation (MRS 16) in the internal act.

The audit of the Annual Financial Statement of Positive Montenegro for 2015 has found that the Party implemented given recommendations in the audit of the Annual Financial Statement of the Positive Montenegro for 2014. The Party partially implemented the recommendation related to conclusion of the contracts.

The final Audit Report on Annual Financial Statement of Positive Montenegro for 2015 has been published at the official web site of the SAI.

Excerpt from the Audit Report on Annual Financial Statement of the Positive Montenegro for 2015

Audit Report on Annual Financial Statement of the Positive Montenegro for 2015 (mne)