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Published the Audit Report of the Annual Consolidated Financial Statement of the Bosniak Party for 2016

Podgorica, 26th October 2017 - The State audit institution of Montenegro has conducted a financial audit and regularity audit of the Annual Consolidated Financial Statement of the Bosniak Party for 2016.

Based on conducted audit, established facts and statement of the audit entity on the Preliminary audit report, the competent Auditing Board, consisting of a member of Senate, Mr. Nikola Kovačević, head of the Auditing Board and a member of Senate, Branislav Radulović, PhD, member of the Auditing Board, has expressed qualified opinion on the Annual consolidated financial statement of the Bosniak Party for 2016 and qualified opinion on regularity audit.

The audit of the Annual Consolidated Financial Statement of the Bosniak Party for 2016 has found that there are materially significant misstatements in relation to determined materiality which amounts to 5,037.00 €, but they are not pervasive for the financial statement.

The regularity audit has found that the audited entity did not harmonize all financial and other activities, in all material aspects with the legal and other regulations identified as criteria for the given audit. The non-compliance refers to inconsistent implementation of Article 46 of the Law on personal income tax, Law on Labor, Rulebook on the manner and deadlines for performance of inventory of the assets of the legal entities and Rulebook on chart accounts.

The audit of the Annual financial statement of the Bosniak party for 2015 determined certain irregularities and the recommendations were given for their elimination. The audit of the annual financial statement for 2016 has found that out of ten recommendations, the audited entity implemented 6 and did not implement 4 recommendations.

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

Audit Report of the Annual Consolidated Financial Statement of the Bosniak Party for 2016 (mne)