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Skupština Crne Gore
Tuesday, 24. May 2016. 16:39

Process of establishing a financial management and control system

Within continuous and overall efforts for improvement of work and strengthening of the Parliamentary Service, especially through implementation of measures envisaged by the Action Plan for Strengthening the Legislative and Oversight Role, in the course of this year the Parliament of Montenegro has achieved significant results in the process of meeting standards significant for improvement of its work and its role in the process of European and Euro-Atlantic integration.

By opening the Internal Audit Department in October 2015, a system was established within the Parliamentary Service which, among other things, through analysis of performed tasks should contribute to independent and objective evaluation of achievement of set plans and tasks, aimed at improving the control of public funds spending, and thus transparency of the work of the Parliament.

Furthermore, there is ongoing process of establishing a financial management and control system within the Parliamentary Service. After the adoption of the Plan for Improvement of Financial Management and Control in mid-January 2016, the employees in charge of establishing, implementing, and developing this system, which includes risk management, have attended several trainings and courses in this field. The preparation of the Book of Procedures is also ongoing, and it will include all activities of the Parliamentary Service, with a goal to determine, in a unique and unified manner, procedures required for effective, rational, and responsible spending of budget funds.

It was planned that, by the end of this calendar year, the Service of the Parliament of Montenegro would have a complete system of internal financial controls established and implemented, and it would be additionally strengthened, thus meeting another significant European standard related to the work of the Parliament and public administration sector in general, as well as a commitment determined by the Law on Public Internal Financial Control System.

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