In this strategic period, the EUROSAI TFMA Secretariat initiated a new activity – to publish the EUROSAI TFMA Audit Compendium. It was published in May 2020. This audit compendium, as a new type of product, should complement the audit results by raising awareness of recent audit work by the EUROSAI TFMA countries and would make the results of SAIs work more widely available. 

The purpose of the EUROSAI TFMA Audit Compendium is to gather and systemize the audit results or practices of members in the field of municipality-owned companies in the period between 2015 and 2019. It should complement the audit results by raising awareness of recent audit work by the EUROSAI TFMA countries and make the results of SAIs work more widely available. 

The topic of this first EUROSAI TFMA Audit Compendium “Municipality-owned companies” was approved by all members at the 2nd Annual Meeting held in November 2018 in Belgrade.

In the new Audit Compendium is also he Supreme Audit Office of the Slovak Republic (SAO SR). SAO SR carried out an audit in which it investigated how the entities of territorial self-government managed its property participation in commercial companies.

The audit examined the long-term financial assets of the municipalities worth EUR 227.03 mil. The audited period was 2015, respectively, the period from 2013 to 2015 for selected, audited areas (activities of the company bodies and control activities).

The reason for the audit was a large number of assets that municipalities reported as shares in commercial companies as well as serious deficiencies found during previous audits carried out by the Office in this area of municipal activity. The audit was performed in 50 municipalities with ownership interests in 168 commercial companies.

Read the complete Audit compendium in its entirety here.