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Published Audit Report of the Annual financial statement of the Democratic Party for 2015

Podgorica, 1st November 2016 - The State audit institution of Montenegro has performed a financial audit of the Annual Financial Statement and regularity audit of the Democratic Party 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 a member of Senate, Branislav Radulović, PhD, a member of the Auditing Board, has expressed qualified opinion on Annual Financial Statement and qualified opinion on regularity audit of the Annual financial statement of the Democratic Party for 2015.

Financial audit has found that the Annual Financial Statement of the Democratic Party for 2015 was not 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, Rulebook on the form, content, manner of filling and submitting of the unique form of the statement on the calculated and paid personal income tax and benefits for compulsory social insurance (Article 5) and Regulation on the Method and Terms of Inventory and reconciliation of book balance and the actual status.

The final Audit Report of the Annual financial statement of the Democratic Party 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 Democratic Party for 2015

Audit Report on Annual Financial Statement of Democratic Party for 2015 (mne)