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Published Audit Report of the Annual Consolidated financial statement of the Democratic Party for 2016

Podgorica, 19th December 2017 - The State Audit Institution has conducted a financial audit of the Annual Financial Statement and a regularity audit of the Democratic Party for 2016.

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 president of the Senate, Milan Dabović, PhD, a member of the Auditing Board, has given unqualified opinion on the Annual financial statement and qualified opinion for regularity audit.

Financial Audit has found that the Annual Financial Statement of the Democratic Party for 2016 was in all material aspects compiled and presented fairly and objectively in accordance with the applicable financial reporting framework.

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, except for the stated under item 10.1.4 – petty cash operations and item 10.2.2 – Expenses (expenses for material, expenses for fuel, gross earnings).

By auditing the Annual Financial Statement of the Democratic Party for 2016, the SAI has checked the implementation of recommendations given in the Audit report for the previous year and it has determined that the Party implemented five recommendations, while one recommendation was not implemented. The implementation of the recommendation related to leasing contracts could not be checked because the audited entity did not conclude leasing contracts in 2016.

The final Audit Report of the Annual Consolidated financial statement of the Democratic Party for 2016 has been published at the official web site of the State audit institution.

Audit Report on Annual Consolidated Financial Statement of the Democratic Party for 2016 (mne)