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Published Audit Report on the Annual Financial Statement of the Montenegrin Party for 2017

Podgorica, 24th October 2018 - The State Audit Institution has conducted a financial audit of the Annual Financial Statement and a regularity audit of the Montenegrin Party for 2017.

Based on the conducted audit, determined facts and the statement of the audited entity to the Preliminary Statement 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, Branislav Radulović PhD, a member of the Auditing Board, has given unqualified opinion on the Annual financial statement for 2017 and adverse opinion on regularity audit.

Financial Audit has found that the Annual Financial Statement of the Montenegrin Party for 2017 was in all material aspects compiled and presented in accordance with the applicable financial reporting framework.

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 parties and election campaign (Article 13, 17 and 18) and Law on employment (Article 26). Due to a great number of identified irregularities in the work of this audited entity, the competent Auditing Board has agreed to submit the Report to the Parliamentary Committee on economy, finance and budget and Committee on political system, legislature and administration.

In the audit of the Annual financial statement of the Montenegrin party for 2017, the SAI has checked implementation of the recommendations given in the Audit report of the Annual financial statement for 2016. The audit of the Annual financial statement of the audited entity for 2017 has determined that the audited entity implemented four recommendations out of eight, while four recommendations were partially implemented.

The Final Audit Report on the Annual Financial Statement of the Montenegrin Party for 2017 has been published at the official web site of the State audit institution of Montenegro.