Pregledni rad
https://doi.org/10.31297/hkju.24.2.4
Auditing the Aggregated Balance Sheet of the Republic of Slovenia: Challenges from Auditor and Auditee Perspective
Maja Zaman Groff
orcid.org/0000-0002-3917-5436
; School of Economics and Business, University of Ljubljana, Slovenia
*
Alenka Krese
; Krese business services Ltd.
*
* Dopisni autor.
Sažetak
The study investigates the complexities of the annual audit of the aggregated balance sheet of the Republic of Slovenia, mandated since 2010, shedding light on a critical yet under-researched area of public sector audits. The Court of Audit of the Republic of Slovenia, entrusted with this task, has consistently expressed disclaimer of opinion since 2014, when it began conducting separate audits and issuing individual audit opinions on the aggregated balance sheet. Disclaimer of opinion resulted from the lack of sufficient and appropriate audit evidence, revealing systemic problems in controlling state property, inconsistencies in asset valuation and others. Notably, this undermines the credibility of the aggregated balance sheet as a decision-making tool, raising questions about the accountability of preparers and decision-makers. The study analyses the audit reports on the aggregated balance sheet of the state, delving into challenges from both the auditor and auditee’s perspective. The challenges faced by the state as the auditee involve failure to implement activity plans, inadequate control of state property and asset valuation beyond the current accounting framework. On the other hand, the Court of Audit encounters challenges in insufficient call for accountability of government and state administration and non-transparent progress reporting. Addressing these challenges, a comprehensive solution for control of state property was implemented in late 2023, indicating progress in reporting quality. Measures that are expected to further contribute to the quality of reporting in the future include developing accounting solutions for areas not currently covered by the accounting framework and amending the Public Finance Act with guidance on how the state balance sheet is to be audited. To enhance monitoring, the act should also mandate year-by-year comparisons and progress reporting in audit reports.
Ključne riječi
public sector auditing; final account of the state budget; state balance sheet; Supreme Audit Institutions; audit opinion; corrective measures; Slovenia
Hrčak ID:
319921
URI
Datum izdavanja:
29.7.2024.
Posjeta: 350 *