Report of the Auditing Team for 2013 gives a positive assessment of functioning of the budget execution system of the Permanent Secretariat of the IGC TRACECA

The audit analyzed the execution of all income and expenditures categories, as well as the registration and preparation of documents, legality, and consistency of execution of the approved budget of the PS IGC TRACECA.

The international auditing team established the application in the Permanent Secretariat of the efficient and quality system of internal control, as well as maintenance of records  and reporting  in accordance with the requirements of the Agreement on  Joint Financing of the PS IGC TRACECA, the legislation of the Republic of Azerbaijan and International Financial Reporting Standards (IFRS).

The auditing team stated the fact of  effective functioning of the management system, quality and expedient execution of the approved budget of the PS. 

The auditing team which carried out a budgetary review for 2013 financial year at the PS IGC TRACECA consisted of the representatives of Romania, the Republic of Turkey and Ukraine.

The Annual Report of the Auditing Team for 2013 prepared on the outcomes of the audit and the developed recommendations   will be submitted for consideration to the regular Meeting of the Intergovernmental Commission TRACECA.