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

Podgorica, 2nd November 2018 - The State audit institution of Montenegro has performed a financial audit of the Annual Financial Statement and regularity audit of the Social Democratic 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 Senate, Branislav Radulović, PhD, a member of the Auditing Board, has expressed unqualified opinion with emphasis of matter on the Annual Financial Statement of the Social Democratic Party for 2017 and unqualified opinion on regularity audit.

Financial Audit has found that the Annual Financial Statement of the Social Democratic Party for 2017 was in all material aspects compiled and presented in accordance with the applicable financial reporting framework. Apart from the given unqualified audit opinion, the competent Auditing Board has emphasised the stated under item 11.2 – Keeping records and taking inventory of the assets and under item 13.7 – Expenses for fuel and energy.

Regularity audit has found that the audited entity harmonized all the financial and other actions with the legal and other regulations that had been identified as criteria for the given audit.

In the audit of the Annual financial statement of the for Social Democratic Party 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 recommendation related to real planning of revenues and expenditures, while the audited entity partially implemented the recommendation related to realization of the revenues from the membership fee in accordance with Article 6 of the Law on financing political entities and election campaign.

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

Audit Report on Annual Financial Statement of the Social Democratic Party of Montenegro for 2017 (mne)