Press release on completion of the auditing operation No. 05/27
The auditing operation was included in the Annual Audit Plan of the Supreme Audit Office (hereinafter referred to as “SAO”) for the year 2005 under No. 05/27. The auditing operation was managed and the audit conclusion drawn up by Mrs. Zdeňka Profeldová, the Member of the SAO.
The aim of the auditing operation was to assess economy of using of funds and to examine procedures of the state property administration at the Czech Consolidation Agency.
The audited period covered the years 2003 to 2004, as well as previous and following periods in certain cases of relevant connections.
A main task of the Czech Consolidation Agency till termination of its activity is to ensure an economical management and a transparent closing of the financial group in order to maximize yield of entrusted property. The Czech Consolidation Agency adopted 21 remedy actions to rectify the SAO findings from the previous auditing operation (03/11). These measures contributed to improve a claim administration procedures. In spite of this, the audit found non-standard procedures of conveying claims that remained after companies from the ZETOR Group. Due to this, loss of the agency increased.
Auditors assessed as uneconomical too high salary expenditures, external services costs, giveaway costs, and educational costs for limited number of staff, although the law laid down termination of the Czech Consolidation Agency’s activity.