Audit Authority of Montenegro, as an independent audit body was established by the Law on Audit of EU Funds which was adopted by the Parliament of Montenegro at the sitting held on 27 February 2012 (“Official Gazette of Montenegro”, no 14/2012 from 7 March 2012).
Audit Authority is functionally independent from all actors in the management and control system of EU funds in Montenegro.
Audit Authority is solely responsible for audit of EU funds (Instrument for Pre-Accession Assistance, structural funds after the accession of Montenegro to the European Union and other EU funds).
The task of Audit Authority is to examine and confirm the effectiveness and stability of functioning of management and control system of EU funds.
The Law on Audit of EU Funds shall prescribe that auditees, public institutions and organisations, authorities and organisations of local self-government units, natural and legal persons who receive, use and manage EU funds respectively.
Until the adoption of the Law on Audit of EU funds, Audit Authority was temporarily established and located in the system of external state audit, based on the Agreement on Establishment of Audit Authority within the framework of Decentralized System of Management of Instrument for Pre-Accession (IPA), signed between the Government of Montenegro and State Audit Institution (“Official Gazette of Montenegro”, no 05/10).