On March 16-17, 2021, the audit for 2020 on the execution of the PS IGC TRACECA budget approved by the TRACECA member states was held

During the audit of the financial activities of the PS IGC TRACECA, the budget execution for 2020, as well as the documentation management and paperwork were verified.

Following the results of the audit, the members of the Auditing Team signed a report containing an expert opinion, analysis, results, as well as recommendations on both the expenditure side of the budget and general recommendations, which will be submitted for consideration at the next Meeting of the Intergovernmental Commission TRACECA, scheduled to be held in Sofia, Republic of Bulgaria.   

It should be noted that in accordance with the Agreement on Joint Financing of the PS IGC TRACECA between the Governments of the Parties to the Basic Multilateral Agreement on International Transport for the Development of the Europe- the Caucasus-Asia Corridor as of April 21, 2005, the Temporary Regulations for the work of the Auditing Team of the PS IGC TRACECA as of May 03, 2006, and the Final Resolutions of the Annual Meetings of the IGC TRACECA, an audit is conducted at the beginning of each year to supervise the budget execution.  

The analysis of the Expert Group determined that all the documents of the financial accounting of the Permanent Secretariat have been prepared in accordance with the general accounting principles, the International Financial Reporting Standards (IFRS), and the requirements of the national legislation.