Fifth Meeting of the Parliamentary Stabilization and Association Committee (PSAC) between European Union and Serbia

24 September 2016.
Fifth Meeting of the Parliamentary Stabilization and Association Committee (PSAC) between European Union and Serbia

President of the State Audit Institution and Auditor General, Mr. Radoslav Sretenovic, presented latest information regarding work of the State Audit Institution of Serbia to participants of the fifth meeting of the Parliamentary Stabilization and Association Committee between European Union and Serbia, in the National Assembly Building.

On the second day of the meeting, on 23rd September 2016, he presented findings from audit reports regarding audits implemented during 2015 to the MPs from the Serbian and European Parliaments, as well as to representatives of the European Court of Auditors.

Significance of the year 2015 for the work of the Institution may be reflected in the fact that the Audit Program included, for the first time, all auditees where audit is mandatory conducted each year. Also, 2015 Audit Program included, for the first time, financial statements and compliance audit of political parties.

Based on the Audit Program, during 2015 the Institution conducted financial statements audits and compliance audits of 78 auditees, regarding auditees' operations in 2014. Audit of specific elements of financial statements of 80 entities was also conducted. These audits included public expenditures and expenses totaling 1,979 billion dinars, Mr. Sretenovic said.

He added that, in addition to the mentioned 158 audits reports, review of reliability of responses to audit report was conducted regarding 14 auditees within local authorities audit. On should add two audit reports to this number based on 2014 Audit Program (performance audit report, titled "Utilization of Real Estate Owned by the Republic of Serbia" and financial statements and compliance audit report on operation of AD "Novosadski Sajam"), which totals 174 audit reports that were published in 2015.

In the EU accession process of the Republic of Serbia, Mr. Sretenovic highlighted that the Institution participated in two negotiating groups - 32 (financial control) and 5 (public procurements). Chapter 32 was opened in which the Institution had a major role in sub-chapter regarding external audit and was fully prepared for start of negotiations, Mr. Sretenovic said.

In the end of his speech, Mr. Sretenovic highlighted importance of the cooperation between the State Audit Institution and the National Assembly, particularly Members of the Committee for Finance, Republic Budget and Control of Public Funds' Spending.A step forward in further cooperation was made by establishment of the Sub-Committee for Audit Reports Review, Mr. Sretenovic said. Auditor-General reminded the participants of the Memorandum of Understanding, which defines main directions of future cooperation between the Institution and the Committee. Continuous improvement of mutual relations in the area of government financial control, with promotion of principles of responsibilities, transparency and appropriateness in spending public funds represent corner stones on which the Institution builds its future relations with the Finance Committee, Mr. Sretenovic concluded.

Next meeting of the Parliamentary Stabilization and Association Committee between European Union and Serbia will be held on 15th and 16th March 2017 in Strasbourg.