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Published Audit Report on the Annual Financial Statement of the Croatian Civic Initiative for 2015

Podgorica, 28th October 2016 – The State audit institution of Montenegro has performed a financial audit of the Annual Financial Statement and regularity audit of the Croatian Civic Initiative 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 Senate, Milan Dabović, PhD, a member of the Auditing Board, has expressed unqualified opinion on Annual Financial Statement and qualified opinion on regularity audit of the Croatian Civic Initiative for 2015.

Financial audit has found that the Annual Financial Statement of the Croatian Civic Initiative for 2015 was in all material aspects compiled and presented fairly and objectively in accordance with the current financial reporting framework.

The regularity audit has found that the audited entity did not harmonize all the financial and other actions with laws and other regulations identified as the criteria for the given audit. The inconsistency refers to improper implementation of the Law on accountancy and audit (Article 4), Law on obligations and Regulation on Reimbursement of Expenses to Civil Servants and State Employees.

In the audit report of the Annual Financial Statement of the Croatian Civic Initiative for 2014, the State Audit Institution identified a number of irregularities and gave the recommendations with regards to: documenting all cash payments of incurred expenses; concluding the temporary service contracts in line with the provisions of the Law of Obligations and keeping records of receivable from the local self- government. Audit of the Annual financial statement for 2015 has found that the audited entity did not implement two out of three audit recommendations.

The final Audit Report on the Annual Financial Statement of the Croatian Civic Initiative for 2015 has been published at the official web site of the State audit institution of Montenegro.

Excerpt from the Audit Report on Annual Financial Statement of the Croatian Civic Initiative for 2015

Audit Report on Annual Financial Statement of the Croatian Civic Initiative for 2015 (mne)