Banner

Published Report on Audit of the Annual financial statement of the Civil Aviation Agency of Montenegro for 2017

Podgorica, 2nd August 2018 – The State audit institution has carried out audit of the Annual financial statement of the Civil Aviation Agency of Montenegro for 2017.

Based on the 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 consisted of member of Senate, Zoran Jelic, Head of the Auditing Board and member of the Senate, Branislav Radulovic, PhD, a member of the Auditing Board, has expressed unqualified opinion on Annual Financial Statement of the Agency for 2017 and qualified opinion on regularity audit.

Financial audit has found that the Annual Financial Statement of the Civil Aviation Agency for 2017 was in all material aspects prepared in accordance with the applicable financial reporting framework and that the financial statements are, in all material aspects are presented in a fair and objective manner.

The regularity audit of the Annual Financial Statement of the Civil Aviation Agency for 2017 has found that the Agency did not comply all the business activities with the legal and other regulations. The audit has found certain deviations and non-compliances of the business operations of the Agency with the following regulations: Law on public internal financial control system; Law on labour; Law on state property; Law on income tax of physical persons; Law on public procurements; Rulebook on the Chart of Accounts and Content of Accounts for Corporate and Other Legal Entities and Instructions on Payroll Calculation, which are considered as material, but not pervasive in relation to criteria set for regularity audit.

In addition to given audit opinion, the SAI has given twelve recommendations to the Civil Aviation Agency and one recommendation to the Ministry of transport and maritime.

Taking into account the scope and character of identified irregularities and shortcomings at the audited entity, the SAI recommends that the content of the SAI Audit Report be notified to the Ministry of transport and maritime responsible for supervision of the audited entity with the aim to improve the legal framework and accountability of public finance management.

The final Report on Audit of the Annual financial statement of the Civil Aviation Agency of Montenegro for 2017 has been published at the official web site of the State audit institution of Montenegro.