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Published Audit Report of the Annual Consolidated Financial Statement of the Social democratic party of Montenegro for 2018

Podgorica, 19th July 2019 – The State audit institution has performed financial audit of the Annual Consolidated Financial Statement and regularity audit of the Social democratic party of Montenegro for 2018.

Based on conducted audit, determined factual state and consideration of the audited entity's opinion on the Preliminary report of the SAI, the competent Auditing board comprised of a member of Senate, Nikola Kovačević, head of Auditing Board and president of Senate, PhD Milan Dabović, member of Auditing Board, has expressed unqualified opinion on the Annual financial statement and qualified opinion on regularity audit.

The financial audit has identified that the Annual Consolidated Financial Statement of the Social democratic party of Montenegro for 2018 was, in all material aspects prepared and presented in accordance with the applicable financial reporting framework.

The regularity audit had identified that the Social democratic party of Montenegro for 2018 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 Article 2, 12, 13, 17 and 18 of the Law on financing political entities and election campaign and Article 639 of the Law on obligations.

By auditing Annual Financial Statement of the Social democratic party of Montenegro for 2018, the SAI has also checked implementation of the recommendations given in the Audit report of the Annual financial statement for 2017. It has been identified that the audited entity implemented all recommendations given in the Audit report of the Annual financial statement for 2017.

The final Audit Report on Annual Financial Statement of the Social democratic party of Montenegro for 2018 has been published at the official web site of the State audit institution of Montenegro.