The Office for the Audit of Institutions in the Federation of Bosnia and Herzegovina (FBiH) recently released a report on the financial audit of the Public Enterprise of Roads in the FBiH. The report highlighted concerns regarding long-term receivables from the FBiH Government, totaling 15,000,000 BAM, which lack proper documentation.
Additionally, discrepancies were found in the accounting of intangible assets related to investments in road infrastructure, with the Company not following the appropriate accounting standards. The report also criticized the Company for not conducting public procurement procedures for highway maintenance and hiring employees without proper procedures.
The Office emphasized the need for the Company to adhere to accounting laws and recommended improvements in financial transparency and compliance with regulations. This audit serves as a wake-up call for the Public Enterprise of Roads in the FBiH to enhance their financial practices and governance to ensure accountability and efficiency in their operations.
Source: Klix.ba
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