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Wednesday, 31 May 2017 05:15

Published Audit Report of the Annual Financial Statement of the Democratic Party of Socialists for 2016

Podgorica, 31st May 2017 – The State audit institution of Montenegro has conducted financial audit of the Annual Financial Statement and regularity audit of the Democratic Party of Socialists for 2016.

Based on conducted audit, determined facts and upon consideration of the audited entity’s opinion on the Preliminary audit report of the SAI, the competent Auditing Board comprised of a member of Senate and head of Auditing Board, Mr. Nikola Kovačević and president of Senate and a member of the Auditing Board, PhD Milan Dabović has expressed unqualified opinion on the Annual financial statement and unqualified opinion on regularity audit.

The financial audit has determined that the Annual financial statement of the Democratic party of Socialists for 2016, in all material aspects, is prepared and presented in a fair and objective manner in line with the acceptable financial reporting framework.

The regularity audit has determined that the audited entity harmonized all financial and other activities, in all materially significant aspects with the legal and other regulations identified as criteria for the given audit.

With a view of implementation of the recommendations given in the Audit Report of the Annual financial statement of the Democratic Party of Socialists for 2015, the State audit institution determined that the audited entity implemented a given recommendation stating that the audited entity should keep records of all reconciled receivables with the local self-governments in the business ledgers and that the records of the ones should be performed in chronological manner during the fiscal year.

The final Audit Report of the Annual Financial Statement of the Democratic Party of Socialists for 2016 has been published at the official web site of the State audit institution of Montenegro.