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Published Audit Report on Annual Financial Statement of the Democratic alliance in Montenegro for 2017

Podgorica, 6th November 2018 - The State Audit Institution conducted a financial audit of the Annual Financial Statements and regularity audit of the Democratic alliance in Montenegro for 2017.

Based on the conducted audit, determined facts and the statement of the audited entity, the competent Auditing Board comprised of Senator Nikola Kovačević, Head of the Auditing Board and Senator Branislav Radulović, PhD, a member of the Auditing Board, has given unqualified audit opinion with emphasis of matter on the Annual financial statement for 2016 and qualified audit opinion on regularity audit.

The financial audit has determined that the Annual Financial Report of the Democratic Alliance of Montenegro for 2017 in all material aspects is compiled and presented in accordance with the current financial reporting framework.

The regularity audit found that the audit entity did not all financial and other actions align with the legal and other regulations that were identified as the criteria for the audit in question. The non-compliances refer to inconsistent application of the Law on Financing of Political Entities and Election Campaigns (Article 38), the Law on Accounting (Article 19), the Regulation on the Compensation of Public Sector Employees' Costs, the Rulebook on Form, Content, Method of Filling in and Delivering a Unique Form of the Report on paid income tax for individuals and contributions for compulsory social security (Article 5).

The audit of the Annual Financial Statements for 2017 has found that the audited entity implemented four recommendations, partially implemented two recommendations and did not implement one recommendation given in the audit report of the Annual financial statement of the Democratic alliance in Montenegro for 2016.

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

Audit Report on Annual Consolidated Financial Statement of the Democratic Alliance of Montenegro for 2017 (mne)