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Published Audit Report of the Annual Consolidated Financial Statement of the Civic Movement URA for 2017

Podgorica, 1st August 2018 – The State audit institution has carried out financial audit of the Annual Consolidated Financial Statement of the Civic Movement URA for 2017.

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 member of the Senate, Zoran Jelić, a member of the Auditing Board, has given qualified opinion on the Annual financial statement and adverse opinion for compliance of the business operations with the legal regulations.

Financial Audit has found that the Annual Financial Statement of the Civic Movement URA for 2017 was in compiled and presented fairly and objectively in accordance with the applicable financial reporting framework except for the stated under item 9.1.3. Revenues from contributions, 9.2.13 Expenditures for volunteers and item 9.2.18 Other expenditures.

The regularity audit has found that the audited entity did not harmonize all financial and other activities with the legal and other regulations identified as the criteria for the given audit. The non-compliances refer to improper implementation of the Law on financing political parties and election campaigns (Article 2 item 2, Article 13 item 5, Article 17 item 1, Article 18 item 3).

By auditing the Annual Consolidated Financial Statement for 2017, the SAI has also checked implementation of the recommendations given in the Report on audit of the Annual financial statement for 2016. The audit of the Annual Financial Statement has found that the audited entity implemented three recommendations and it did not implement four recommendations.

Due to a large number of irregularities and shortcomings in the work of the audit entity, the competent Auditing Board recommends that the Audit Report should be submitted to the Parliamentary Committee on economy, finance and budget and Committee on political system, justice and administration.

The Final Audit Report of the Annual Consolidated Financial Statement of the Civic Movement URA for 2017, statement of the audited entity and response of the SAI on the audited entity's statement, Annex 3 to the Coalition Agreement for the local elections in the municipality of Budva held on 10th October 2016 and Notification of the Civic Movement URA on termination of the account have been published at the official web site of the State audit institution of Montenegro.