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Published Audit report of the Annual financial statement of the Ministry of transport and maritime affairs for 2015

Podgorica, 26th October 2016 – According to the Annual audit plan for 2016, the State audit institution has conducted a financial audit and regularity audit of the Ministry of transport and maritime affairs for 2015.

Based on conducted audit, determined factual state and upon the consideration of the audited entity's opinion on Preliminary Audit Report, the competent Auditing Board of the SAI comprising of Mr. Nikola Kovačević (member of the Senate – Head of Auditing Board) and Milan Dabović, PhD (president of the Senate – member of the Auditing Board), has given an unqualified opinion with emphasis of matter on the Annual financial statement of the Ministry of transport and maritime affairs for 2015 and qualified opinion on regularity audit.

The financial Audit has found that the Annual Financial Statement of the Ministry of transport and maritime affairs for 2015 does not contain significant material errors and it gives a true and fair view of recorded receipts and expenditures on a cash basis except for the irregularities presented in the comments to the Report on outstanding liabilities for 2015, which refer to completeness and accuracy of the report and manner of keeping records of the liabilities.

The regularity audit has found that the Ministry of transport and maritime affairs did not harmonize, in all material aspects, all the business activities and operations with the legal and other regulations governing operation of the audited entity.

The audit has identified certain deviations and non-compliance with the following regulations: Law on Public Internal Financial Control System; Law on Civil Servants and State Employees, Public procurement law; Law on state property; Regulation on keeping records of state‐owned movable and immovable property and inventory; Regulations on the Uniform Classification of Accounts for the State Budget, Extra‐Budgetary Funds and Municipal Budgets and Directions on the State Treasury Operations.

The final Audit report of the Annual financial statement of the Ministry of transport and maritime affairs for 2015 has been published at the official web site of the State audit institution.

Excerpt from the Audit Report on Financial Statement of the Ministry of transport and maritime affairs for 2015

Audit Report on Financial Statement of the Ministry of transport and maritime affairs for 2015 (mne)