The Supreme Audit Office of the Republic of Srpska public sector published its article in the 6th newsletter of the EUROSAI TFMA working group for municipal audits, in which it shared the experiences of all 64 local governments in the Republic of Srpska that were subject to financial audits in the past three years, with an emphasis on the degree implementability of recommendations and given opinions.
In that period, out of 64 LGUs in the Republika Srpska, 4 LGUs received both unqualified opinions (for financial statements and for compliance). In percentage, the representation of qualified opinions for financial statements and for compliance for the observed three-year period is 72%. In the same period, 6% have unqualified opinions, 2% are adverse opinions, while the other 20% are combinations of qualified and unqualified opinions and adverse opinions.
A total of 899 recommendations were given, of which 488 refer to financial statements, and 411 recommendations to compliance. An average of 14 recommendations per LGU report certainly indicates that it is necessary to strengthen and improve the system of financial reporting and internal financial control in LGUs, according to the article of the Main Audit Office, which is available at this link TFMA_News_No_6_October_2023.pdf
In addition to the Supreme Audit Institution of the Republic of Srpska, in the 6th issue of the EUROSAI TFMA working group bulletin, the SAIs of Austria, Bulgaria, Croatia, Estonia, Israel, Hungary, Latvia, Lithuania, Slovakia, Slovenia, and Spain shared their expirences in the area of auditing local self-government units.
This is the fourth article published by the Supreme Audit Office in the newsletter of the EUROSAI TFMA working group.