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Audit Compendium “Municipal Owned Companies” (Activity 1.9.3 of the TFMA Activity Plan for 2020) provides some background information on audit of municipality-owned companies, legal bases, use of financial resources and etc. The Compendium also illustrates the main challenges the TFMA members are facing in this field.
With this publication the EUROSAI TFMA aims to enhance communication of relevant audit messages to its stakeholders and the public in general. This first edition of the Audit Compendium is based on audit reports in the field of municipalities owned companies produced by 14 TFMA members between 2016 and 2019. The Coordination Group consisting of SAIs of Serbia (team leader), Turkey, Ukraine and Italy share the results.
The first part of this Audit Compendium – financial audit summarizes the results of selected audits carried out by 4 EUROSAI TFMA member SAIs (Albania, Italy, Montenegro, and Republic of Serbia).
The second part of this Audit Compendium – compliance audit summarizes the results of selected audits carried out by 5 EUROSAI TFMA member SAIs (Hungary, Latvia, Republic of North Macedonia, Slovenia, and Spain).
The third part of this Audit Compendium – performance audit summarizes the results of selected audits carried out by 6 EUROSAI TFMA member SAIs (Croatia, Israel, Lithuania, Republic of Serbia, Slovakia, and Ukraine [p. 59-60]).
Annex of this Audit Compendium summaries SAIs’ mandates for auditing municipality-owned companies. The audit mandate is classified by types of audits (financial, compliance and performance audit), and includes contributions by 27 EUROSAI TFMA member SAIs (Albania, Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Estonia, Finland, Georgia, Greece, Hungary, Israel, Italy, Latvia, Lithuania, Malta, Montenegro, The Republic of North Macedonia, Poland, Portugal, Romania, Republic of Serbia, Slovakia, Slovenia, Spain, Turkey, and Ukraine [p. 68]).