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Published Audit Report of the Annual Consolidated Financial Statement of the Civic Movement URA for 2016

Podgorica, 19th October 2017 - The State Audit Institution has conducted a financial audit of the Annual Financial Statement and a regularity audit of the Civic Movement URA for 2016.

Based on the conducted audit, determined facts and the statement of the audited entity to the Preliminary Report of the SAI, the competent Auditing Board comprised of a member of the Senate Nikola Kovačević, Head of the Auditing Board and president of the Senate, Milan Dabović, PhD, a member of the Auditing Board, has given unqualified opinion with emphasis of matter on the Annual financial statement and qualified opinion on regularity audit.

Financial Audit has found that the Annual Financial Statement of the Civic Movement URA for 2016 was in all material aspects compiled and presented fairly and objectively in accordance with the applicable financial reporting framework. For the purpose of more precise and transparent disclosure of revenues and expenses in business books, the audited entity should separate the transactions related to regular business operations and election campaigns. The audited entity should record all business transactions in the year in which they occurred in order to properly disclose them.

Regularity audit has found that the audited entity did not harmonize all the financial and other actions with the legal and other regulations that had been identified as criteria for the given audit. Non-compliance refers to improper implementation of the Law on financing political entities and election campaigns (article 18), Law on employment and exercising rights with respect to unemployment insurance (article 26) and Labor law.

The final Audit Report of the Annual Consolidated Financial Statement of the Civic Movement URA for 2016 has been published at the official website of the State audit institution of Montenegro.

Audit Report on Consolidated Annual Financial Statement of the Citizens' Movement URA for 2016 (mne)