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Published Audit Report on Annual Financial Statement of Albanian Alternative for 2015

Podgorica, 2nd December 2016 – The State audit institution of Montenegro has performed a financial audit of the Annual Financial Statement and regularity audit of the Albanian Alternative 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 member of the Senate, Branislav Radulović, PhD, a member of the Auditing Board, has expressed unqualified opinion on Annual Financial Statement with emphasis of matter and qualified opinion on regularity audit of the operations of the Albanian Alternative for 2015.

Financial audit has found that the Annual Financial Statement of the Albanian Alternative for 2015 was in all material aspects compiled and presented fairly and objectively in accordance with the current financial reporting framework. Apart from expressed unqualified audit opinion, the competent Auditing Board has emphasized that the audited entity should substantiate all the expenses by a full set of valid and adequate documentation.

The regularity audit has found that the audited entity did not comply all the financial and other actions with laws and other regulations identified as the criteria for the given audit. The shortcomings refer to inconsistent implementation of Article 4 of the Law on accountancy and audit, Article 23 of the Law on labour, Article 46 and 47 of the Law on income tax and Article 639 of the Law on obligations.

The audit of the Annual Financial Statement of the Albanian Alternative for 2014 had found certain irregularities and given recommendations for eliminating the same ones. The audit of the Annual Financial Statement for 2015 has found that the audited entity implemented 3 recommendations, partially implemented one recommendation and did not implement one recommendation.

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

Audit Report on Annual Financial Statements of Albanian Alternative for 2015 (mne)