On week 48 three new reports were published by the State Audit Office of Hungary. The audits of two state-owned defence companies and Magyar Cirkusz és Varieté NKft concluded. On Tuesday, the National Assembly approved the 2016 final accounts, the drawing up of which was supported by the audit concluded by the SAO. This week the audit of the state asset management for 2016 has started. The latest issue of the economic periodical SZAKma published a report on the conference of the AHFEA held in early November. The Financial Literacy Project published a video in the topic of student loans. This week saw the publication of nearly 30 new articles on the SAO News Portal.
New reports: Three follow-up audits were concluded this week
On Tuesday, the SAO concluded the audit of the asset preservation and financial management of HM Arzenál Elektromechanikai Zrt. and Honvédelmi Minisztérium ArmCom Kommunikációtechnikai Zrt. for the period of 2012-2015. The SAO concluded that proprietary rights over the companies were exercised in a regular manner, and that the level of regulation of the companies’ operation was also in compliance with requirements. The asset management of both companies was also regular.
On Tuesday, the SAO also concluded the audit of the financial management of MACIVA Magyar Cirkusz és Varieté Nonprofit Kft. for the period of 2012-2015. The company established its internal policies and adequately regulated its operation. The asset-managed assets were not separated in the company’s accounting records, thus, its transparency was impaired. The asset management of the company was in compliance with the rules.
Audit in progress: Audit of state property commences
In accordance with the approved auditing schedule, this week the auditors started the execution of the tasks relating to the audit of the activities concerning the exercise of proprietary rights over state property. The audit evaluates at eight organisations whether the exercise of proprietary rights over state property was regular and responsible.
Utilisation by the National Assembly: the 2016 final accounts have been accepted
On Tuesday, the National Assembly accepted the act on the execution of the 2016 central budget. As it does each year, fulfilling its statutory obligation, the State Audit Office of Hungary audited last year’s final accounts and concluded that the execution of the 2016 budget was in compliance with the relevant laws and legal regulations, the bill was substantiated and reliable. At the beginning of the parliamentary debate on 19 October 2017, SAO President László Domokos pointed out in his exposé that last year Hungary’s economy continued to grow, which is also notable when we consider the significant drop in incoming EU funding compared to the previous years.
Sustainable development: exchange of ideas continues
The SAO continues to map the audit possibilities of the implementation of the UN’s sustainable development goals. After the October visit of the president of the Hungarian Central Statistical Office and the representatives of the Ministries concerned, this week the representatives of the Office of the Commissioner for Fundamental Rights and the Hungarian Academy of Sciences participated in the exchange of professional views at the SAO’s headquarters. At the meeting on Friday, the parties discussed the importance of the area and shared their opinion on the preparation of SAO’s audits.
Utilisation: messages of the SAO at a professional forum and in the trade press
Erzsébet Németh, the Supervisory Manager of the SAO’s Integrity Project held a presentation to the employees of the Metropolitan Court of Appeal, where she disclosed the results of the Integrity Survey conducted among judiciary institutions, comparing them with those gained from surveys of other groups of institutions.
SZAKma published an article about the conference of AHFEA
How has the auditing sector contributed to coping with the social, economic and political challenges of the last decade and what strategies does it propose to enhance the economic development? Among others, the conference of the Association of Hungarian Financial-Economic Auditors was looking to answer these questions. The event was covered by a report in an expansive article published in the latest issue of the economic periodical SZAKma.
Financial Awareness: the Student Loan
The Student Loan is a special loan arrangement tailored to university and college students; an option used by many students today. What are the real advantages and disadvantages of the Student Loan? Can we talk about financial awareness in connection with the Student Loan?
International scene: 40th anniversary of the Lima Declaration
The Lima Declaration of the guidelines of the auditing precepts, adopted in 1977 at the 9th Congress of the International Organisation of Supreme Audit Institutions (INTOSAI), contains a comprehensive list of all goals and issues relating to government auditing, while simultaneously remaining remarkably significant and concise. At the conference organised for the 40th anniversary of the Declaration, SAIs from all over the world reinforce their commitment to the precepts laid down in the document and discuss the current related topics.
Organisational news: ShoeBox charity initiative and Audit Manager Forum
This year we can already safely say that SAO’s participation in the ShoeBox charity initiative became a tradition, the aim of which is to support children in need, living in Hungary or abroad. The donated and neatly decorated gift packages are being collected under the Christmas trees in the office buildings of the SAO.
Chaired by State Audit Office of Hungary Vice-President Tihamér Warvasovszky, the Audit Manager Forum was organised again on 28 November, as part of which key topics impacting the work of audit managers were reviewed and discussed.
Nearly 30 new articles on the SAO’s News Portal in week 48
In order to ensure the transparency of its operation and the continuous supply of information to the general public, the SAO’s various organisational units and audit staff published 27 new articles this week. In addition to the topics of the Weekly Newscast, the articles provide up-to-date information on the various stages of newly launched and ongoing audits and on the utilisation of audit work. The SAO News Portal has published 1,859 news items and the State Audit Office has disclosed 226 reports and 12 analyses so far in 2017.
Department of Communication and Public Relations