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Published Follow up Audit Report of Old Royal Capital Cetinje

Podgorica, 3rd November 2016 – The State audit institution has performed a follow up audit of the Old Royal Capital Cetinje. The objective of the follow up audit is to assess accuracy of the audited entity's response about conducted activities on implementation of the recommendations and to determine the extent up to which audited entity implemented the recommendations as well as whether the identified irregularities were eliminated.

The subject-matter of the follow up audit is: control over implementation of the recommendations contained in the Final Audit Report of the Final Statement of budget accounts of the Old Royal Capital Cetinje for 2013 as of 29th October 2014; assessment of the accuracy of the statements given in the Information on implementation of the audit recommendations which the Old Royal Capital Cetinje submitted on 2nd September 2015 on the activities related to implementation of given recommendations and elimination of identified irregularities as well as control of the financial statements of the Old Royal Capital Cetinje for 2015 and compliance of its operations in relation to stated irregularities identified in the previous audit.

During the audit of the Final Statement of budget accounts of the Old Royal Capital Cetinje for 2013, the State Audit Institution gave 38 recommendations. The follow up audit has found that the audited entity implemented 25 recommendations; partially implemented 8 recommendations and did not implement 5 recommendations.

Based on the conducted follow‐up audit, the minutes of state auditors, and analysis of the Response given by the audited entity regarding the Preliminary Follow‐up Audit Report on the Old Royal Capital Cetinje, the competent Auditing Board of SAI consisting of: Branislav Radulovic, PhD (member of Senate – head of the Auditing Board) and Milan Dabović, PhD (president of the Senate - member of the Auditing Board), determined that the Old Royal Capital Cetinje achieved significant results related to implementation of the previously given audit recommendations, but there are still some shortcomings in the areas of: public procurement, budget planning and execution (resulting in a overruns on individual budget items) and submitting reports on state of property to the competent authority.

The final Follow up Audit Report of Old Royal Capital Cetinje has been published at the official web site of the State audit institution of Montenegro.

Excerpt from the Follow up Audit Report of Old Royal Capital Cetinje

Follow up Audit Report of Old Royal Capital Cetinje (mne)